Shares of pharma company Sudarshan Pharma Industries are in focus after the company shared update regarding its recent acquisition. According to the information shared with the exchanges, the company has purchased the assets of Telangana-based Srigen Lifesciences Private Limited Srujan for Rs 25.50 crore.
As per the exchange filing, this acquisition will lead to an increase in SPIL’s manufacturing capacity. Meanwhile, the stock is under Enhanced Surveillance Measure (ESM) Stage 2.
“The transaction forms a cornerstone of SPIL’s long-term strategy to build a robust, scalable, and compliance-driven manufacturing infrastructure. This strategic move is set to support global expansion and drive sustained value creation for stakeholders,” said Sudarshan Pharma Industries in a regulatory statement, instilling a sense of optimism among investors and market enthusiasts.
According to the company, the acquired facility will be utilised for the production of high-value, technically complex pharmaceutical ingredients, such as Ropivacaine, Bupivacaine, Probenecid (Probalan), Sitagliptin, Apixaban, and Rivaroxaban-essential APIs.
Share Price History
The stock of the company has given a return of 274.04 per cent over the past two years and 35.46 per cent in one last year. On a year-to-date basis, the stock has corrected 27.78 per cent, as compared to a positive return of 3.29 per cent by the benchmark index.
Share Market Today
Meanwhile, the 30-share BSE Sensex rallied 366.87 points to 81,154.17 in early trade. The 50-share NSE Nifty climbed 101.35 points to 24,874.50.
From the Sensex firms, Infosys, Tech Mahindra, Tata Consultancy Services, HCL Tech, Adani Ports and Larsen & Toubro were among the major gainers.
However, Eternal, Tata Steel, Bajaj Finance and Bharat Electronics were among the laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,170.35 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,014.30 crore, according to exchange data.