Sanofi India slips in red; SC refuses early hearing

Senior counsel Harish Salve, appearing for Sanofi, wanted the apex court to hear early the department appeal against the Andhra Pradesh High Court’s February 15, 2013 order that ruled in favour of French drugmaker Sanofi Pasteur Holding SA.

Jul 26, 2016 12:07 IST India Infoline News Service

Sanofi India
The Supreme Court on Monday refused to grant early hearing in the Rs1,058-crore Sanofi SA cross-border deal involving Indian assets of Hyderabad-based Shantha Biotechnics (SBL).

Senior counsel Harish Salve, appearing for Sanofi, wanted the apex court to hear early the department appeal against the Andhra Pradesh High Court’s February 15, 2013 order that ruled in favour of French drugmaker Sanofi Pasteur Holding SA. 

Sanofi India Ltd is currently trading at Rs. 4532.25, down by Rs. 50.05 or 1.09% from its previous closing of Rs. 4582.3 on the BSE.

The scrip opened at Rs. 4597.55 and has touched a high and low of Rs. 4625 and Rs. 4530 respectively. So far 2848(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10553.04 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4770 on 04-Jul-2016 and a 52 week low of Rs. 3676 on 24-Jul-2015. Last one week high and low of the scrip stood at Rs. 4650 and Rs. 4470 respectively.

The promoters holding in the company stood at 60.4 % while Institutions and Non-Institutions held 29.4 % and 10.2 % respectively.

The stock is currently trading above its 50 DMA.

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