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In today’s edition of Moneycontrol Pro Panorama: Ipca's acquisition of Unichem, branch banking makes a comeback, AI not a threat to traders, Congress's do-or-die battle in Karnataka, and more
Ipca Labs plans to acquire a 33.38 percent stake in Unichem Labs at Rs 400 per share, aggregating around Rs 1,034.06 crores.
The 30-share BSE Sensex pack fell 33 points or 0.05 per cent to trade at 60,023, while the broader NSE Nifty moved 9 points or 0.05 per cent down to trade at 17,734. Mid- and small-cap shares were mixed as Nifty Midcap 100 shed 0.16 per cent and small-cap rose 0.18 per cent.
Bajaj Finance, Adani Enterprises, Britannia Industries, Bajaj Finserv and IndusInd Bank were the major Nifty gainers, while losers included HDFC Life, UPL, HDFC Bank, HDFC and Tech Mahindra
IPCA Labs: Motilal Oswal Securities said the acquisition is expensive, given increased competition in the US generics oral solids space, rising regulatory risks, strong efforts needed to turnaround Unichem,