Shares of Albert David Ltd, a mid-cap pharmaceutical company, ended 7.40% higher after the company yesterday entered 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 14% 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 25704(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.
The stock is currently trading above its 200 DMA.