Cipla subsidiary signs pact with Shriji Polymers
Shital Jibhe / 19 Jan 2017
Drug major Cipla said its wholly-owned subsidiary Goldencross Pharma, has entered in to a definitive agreement to sell its 100 per cent equity stake in Four M Propack Limited to Shriji Polymers India Limited for a consideration of Rs 13.5 crore.
Drug major Cipla said its wholly-owned subsidiary Goldencross Pharma, has entered in to a definitive agreement to sell its 100 per cent equity stake in Four M Propack Limited to Shriji Polymers India Limited for a consideration of Rs 13.5 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds and so on.
The stock of the company witnessed a spurt in volumes by more than 1.10 times and is trading with gains. In the last one year, the stock has fallen by 2.28 per cent. The stock is trading with per-share earnings (P/E) of 40.91.
On a three year annualised basis, the stock has given a return of 11.60 per cent. On a half yearly basis, the earnings per share (EPS) of the company stands at Rs 14.22. Meanwhile, ICICI Prudential Fund is the top fund house which has invested in the stock of the company.
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