Hester Biosciences Announces an Investment of $3 Million in Its Subsidiary

Hester Biosciences Limited is engaged in manufacturing of poultry vaccines and large animal vaccines, and trading of poultry health products and large animal health products. On Wednesday, it informed the bourses that its board of directors has approved to make an investment amounting to $3 million in its wholly owned subsidiary Hester Biosciences Africa.
 
As per BSE filing, the main business of the wholly owned subsidiary will be of manufacturing and trading of veterinary vaccines and health products.
 
In a year’s time, the stock has delivered over 45% returns. It has outperformed BSE Healthcare and underperformed BSE small-cap over the same period.
 
Meanwhile, Hester Biosciences was up by 2.9% at Rs 911 per share at 15:09 hours IST on BSE. It hit a high of Rs 911 and a low of Rs 888 so far during the day.