High jump! Alber David surges 6% on Zydus deal

Since yesterday’s announcement, Albert David’s stock has skyrocketed by over 13% so far.

Mar 29, 2016 06:03 IST India Infoline News Service

Shares of Albert David Ltd, a mid-cap pharmaceutical company, are currently trading 5.69% higher at Rs. 310 after the company yesterday enter into a deal with Zydus Cadila to sell one of its brands ‘Actibile’.

Since the yesterday’s announcement, Albert David’s stock has skyrocketed by over 13% so far.

The company yesterday announced that it has today entered into agreements with Zydus Healthcare Ltd, a wholly owned subsidiary of Cadila Healthcare Limited,  for the sale of ADL's brand 'Actibile' with a free and marketable title along with all business information, know-how and the trademarks associated with the brand for the following territories: (i) the Union of India; (ii) Nepal, (iii) South America (excluding Peru and Colombia), (iv) The United States of America; (v) Japan, (vi) South Africa; (vii) the European Union; and (viii) East Europe.

The scrip opened at Rs. 301.5 and has touched a high and low of Rs. 320.9 and Rs. 301.5 respectively. So far 16828(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 167.47 crore.

The BSE group 'XC' stock of face value Rs. 10 has touched a 52 week high of Rs. 436.5 on 01-Dec-2015 and a 52 week low of Rs. 238.2 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 297.9 and Rs. 268 respectively.

The promoters holding in the company stood at 60.9 % while Institutions and Non-Institutions held 4.55 % and 34.55 % respectively.

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