Ortin Labs board gives in-principle nod to demerge intermediary business

Ortin Laboratories is currently trading at Rs. 20.65, up by Rs. 1.6 or 8.4% from its previous closing of Rs. 19.05 on the BSE.

Aug 30, 2016 12:08 IST India Infoline News Service

Ortin Laboratories Ltd has informed BSE that the Board of Directors of the Company has transacted the following;

In principle approval to demerge its intermediary business and in this regard the Board has formed a Restructuring Committee to detail the nuances of the demerger structure, including valuation,. share entitlement ratio and other incidental matters and to present the same before the next meeting of the Board.

Constitution of Restructuring Committee comprising of S. Murali Krishna Murthy, Managing Director and G. Venkata Ramana, Joint Managing Director of the Company.

Stock View:
Ortin Laboratories Ltd is currently trading at Rs. 20.65, up by Rs. 1.6 or 8.4% from its previous closing of Rs. 19.05 on the BSE.

The scrip opened at Rs. 20 and has touched a high and low of Rs. 20.65 and Rs. 19.4 respectively. So far 104264(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32.27 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.1 on 07-Dec-2015 and a 52 week low of Rs. 8.75 on 14-Sep-2015. Last one week high and low of the scrip stood at Rs. 19.05 and Rs. 16.7 respectively.

The promoters holding in the company stood at 35.06 % while Institutions and Non-Institutions held 0 % and 64.94 % respectively.

The stock is currently trading above its 200 DMA.

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