on Wednesday informed the bourses that the board of directors have approved to make an investment in its wholly owned subsidiary Hester Biosciences Africa.
The investments will be made to the extent of $3 million. The main business of the wholly owned subsidiary will be of manufacturing and trading of veterinary vaccines and health products, as per BSE filing.
The stock has delivered over 45% returns in a year’s time. It has outperformed BSE Healthcare and underperformed BSE small-cap over the same period.
Meanwhile, Hester Biosciences was up by 2.9% at Rs 911 per share at 15:09 hours IST on BSE. It hit a high of Rs 911 and a low of Rs 888 so far during the day.
Hester Biosciences Limited is engaged in manufacturing of poultry vaccines and large animal vaccines, and trading of poultry health products and large animal health products.
Hester Biosciences Ltd is currently trading at Rs 900.1, up by Rs 14.95 or 1.69% from its previous closing of Rs 885.15 on the BSE.
The scrip opened at Rs 888 and has touched a high and low of Rs 913.25 and Rs 888 respectively. So far 10443(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 752.99 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 965 on 06-Apr-2017 and a 52 week low of Rs 611 on 06-Jun-2016. Last one week high and low of the scrip stood at Rs 892.2 and Rs 863 respectively.
The promoters holding in the company stood at 54.07 % while Institutions and Non-Institutions held 2 % and 43.92 % respectively.
The stock is currently trading above its 50 DMA.