Lasa Supergenerics shares rise 5% after acquiring Aromatic Chemical
Lasa Supergenerics shares: It is one of the largest manufacturers in veterinary active pharmaceuticals ingredient (API) products located in Mahad, Maharastra. The company is one of the leading Indian and global animal health care conglomerates and uses Good Manufacturing Practice (GMP).
However, the company on Thursday trading bullishly in the stock market. It gained 2.25 points with a 4.97% increase and reached 47.50 INR. While in BSE, the company gained 2.25 points with a 4.97% increase and reached 47.50 INR. The company also touched its 52-weeks high on NSE after it acquired Harishree Aromatics Chemical.
The company said in a regulatory filing station, we are going to acquire Harishree Aromatics and Chemicals which is one of the manufacturing veterinary APIs. We also acquiring other pharmaceutical intermediates. It also said the acquisition and merging of two companies will provide better results in the share market, product, and services diversification, combined pool of reserves, investments, and other assets.
The company’s Chairman Mr. Omkar Herlekar said that this is a strategical decision towards the companies growth. The merging of the two companies will provide economies of scale, synergistic benefits, better cash flow management, reduce borrowing cost all these will result in better financial and operational efficiencies in the stock market.
However, the company reported its Q3 results ended in December. The company posted a Profit after Tax (PAT) of Rs 2.57 crore as against a net loss of Rs 5.28 crore in the same quarter last year. The company has ‘buy’ pending orders was almost Rs 6,500. Whereas, the company will become one of the biggest gainers in 2020 with a 165% increase in Year-to date.
Stock Market Feb 27th:
On Thursday, February 27th both Sensex and Nifty trading bearish in today’s stock market. The Sensex lost 300.70 points with a 0.76% decrease and reached a 39,591.72 level. Whereas Nifty lost 107.70 points with a 0.92% decrease and reached 11,570.80 level.