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Promoters pledged more shares in December quarter, increased loan security due to Covid-19 related demand | दिसंबर क्वॉर्टर में प्रमोटरों ने गिरवी रखे ज्यादा शेयर, कोविड-19 के चलते बैंक लोन की सिक्योरिटी बढ़ाई
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Strides Pharma Science consolidated net profit declines 59 69% in the December 2020 quarter
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Share Market Highlights: Sensex ends above 50,600 for first time, Nifty at 14,895; ITC, SBI, M&M top gainers
Dalal Street today: ITC, M&M, ONGC, Bajaj Finserv, NTPC were among the top gainers while ICICI Bank, IndusInd Bank, Infosys, HDFC traded as top losers
BusinessToday.In | February 4, 2021 | Updated 16:07 IST
Share Market News: Here s a look at the updates of the market action on BSE and NSE today
Sensex, Nifty Highlights on February 4: Market indices rose sharply for the fourth straight session post Union Budget 2021 and closed at new record highs on Thursday, in line with positive global equities. After a volatile session, Sensex ended 358 points higher at 50,614 and Nifty gained by 105 points to 14,895. Sensex and Nifty hit new lifetime highs of 50,678 and 14,913 during today s session. ITC, M&M, ONGC, Bajaj Finserv, NTPC were among the top gainers while ICICI Bank, IndusInd Bank, Infosys, HDFC traded as top losers. BSE s market capitalization rose to Rs 200.11 la
In order to continue its focus on core pharma business, Strides Pharma Science will be demerging its biotech business under Stelis Biopharma, said a top company official. The Board will form a Committee of Directors to explore various options of value discovery including listing of the business. “The biopharma business needs a lot of capital. At Strides, if we continue to put that capital in Stelis, it would be a challenge on our balance sheet. Our core business is growing extremely well particularly in regulated markets such as the US so we would want to continue to focus on where the growth is and not get distracted by businesses that need longer gestation periods. Hence, the decision is to demerge and list it as a separate company,” said R Ananthanarayanan, Managing Director & Chief Executive Officer of the Bengaluru-headquartered pharma company.
Strides Pharma Science has allotted 10,400 equity shares under ESOP.
Consequent to the above allotment, the paid-up share capital of the Company has increased from Rs. 89,63,54,140/-
consisting of 8,96,35,414 equity shares of Rs. 10/- each to Rs. 89,64,58,140/- consisting of
8,96,45,814 equity share of Rs. 10/- each.
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