Sun Pharmaceutical Industries Ltd
informed the exchange the Company has concluded all the necessary
formalities with regards to acquisition of 100% equity stake of Ocular Technologies, Sarl. The acquisition procedure had commenced in October 2016.
Stock View:
Sun Pharmaceuticals Industries Ltd is currently trading at Rs 637.5,
down by Rs 11.95 or 1.84% from its previous closing of Rs 649.45 on the
BSE.
The scrip opened at Rs 650.05 and has touched a high and low of Rs
651.95 and Rs 634.25 respectively. So far 2339049(NSE+BSE) shares were
traded on the counter. The current market cap of the company is Rs
156307.69 crore.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high
of Rs 898 on 23-Feb-2016 and a 52 week low of Rs 572.4 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs 693 and Rs 645.1
respectively.
The promoters holding in the company stood at 54.97 % while
Institutions and Non-Institutions held 33.34 % and 11.68 % respectively.
The stock is currently trading below its 200 DMA.
Tata Communications Ltd has informed BSE that the Company vide letter dated June 28, 2016 had informed to Stock Exchange that Liquid Telecom, a pan-African telecoms group, majority owned by Econet Wireless Global, had entered into an agreement to acquire South African communications network operator Neotel, which is a subsidiary of the Company.
Thereafter, vide letter dated November 08, 2016, the Company informed
to Stock Exchange inter-alia that the Board of Directors of Tata
Communications Limited, at its meeting held on November 08, 2016
recommended to the shareholders of Neotel, the sale of the entire
shareholding in Neotel, subject to approval of the Independent Communications Authority of South Africa (ICASA).
Neotel has now informed that they have received unconditional approval
from ICASA for acquisition of Neotel by Liquid Telecom which is another
step towards closing of the transaction.
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