Suven Pharmaceuticals Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Suven Pharmaceuticals announced that CRISIL has assigned the rating 'CRISIL A+/ Watch Positive (placed on rating watch with positive implications) / CRISIL A1+ (reaffirmed) for bank facilities of the company.

Powered by Capital Market - Live News

On 29 February 2024, Suven Pharmaceuticals and Cohance Lifesciences announced a proposed scheme of amalgamation for the merger of Cohance with Suven.

“Suven poised to become a leading integrated Contract Development & Manufacturing Organisation (CDMO) player in India and globally; will have multiple engines of growth that will help drive stability in financial performance and growth”, stated the company.

Cohance's ADC platform addition further strengthens the company’s position in the high growth CDMO segment, it added.

After the merger becomes effective, all shareholders of Cohance will be issued shares of Suven at the ratio of 11 shares of Suven for every 295 shares of Cohance, based on the swap ratio. The new shares of Suven will be traded on the NSE and BSE.

The overall transaction is expected to conclude over next 12-15 months, subject to receipt of all relevant shareholder and regulatory approvals.

Explaining the rationale, the company said that the merger would establish its position as a diversified CDMO and API leader in India, transcending its current revenue base. The merged entity is expected to be amongst leading integrated CDMO players in India. With an expanded capacity to approximately 2,650 kL and a significantly broadened customer base, scale and synergy benefits are substantial, it added.

The merged platform will comprise three distinct business units – Pharma CDMO, Spec Chem CDMO, and API+ (inclusive of formulations).

Annaswamy Vaidheesh, executive chairman of Suven said, “This is a transformative step in Suven’s journey of growth and building a respected integrated CDMO player. We are extremely excited about the benefits of combined scale, capabilities, complementary customer base and best practices that will further help enhance our leadership position in India and globally.”

Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of global pharma industry.

The pharmaceutical company reported 56.60% decline in consolidated net profit to Rs 46.75 crore on 37.86% fall in revenue from operations to Rs 219.82 crore in Q3 FY24 over Q3 FY23.

Powered by Capital Market - Live News

Jamna Auto Industries Ltd, CG Power & Industrial Solutions Ltd, Max Healthcare Institute Ltd, Elgi Equipments Ltd are among the other stocks to see a surge in volumes on NSE today, 01 March 2024.

Suven Pharmaceuticals Ltd notched up volume of 115.3 lakh shares by 14:14 IST on NSE, a 57.07 fold spurt over two-week average daily volume of 2.02 lakh shares. The stock rose 7.86% to Rs.678.90. Volumes stood at 3.01 lakh shares in the last session.

Jamna Auto Industries Ltd recorded volume of 370.46 lakh shares by 14:14 IST on NSE, a 6.6 times surge over two-week average daily volume of 56.15 lakh shares. The stock gained 8.51% to Rs.130.10. Volumes stood at 49.37 lakh shares in the last session.

CG Power & Industrial Solutions Ltd clocked volume of 161.68 lakh shares by 14:14 IST on NSE, a 6.21 times surge over two-week average daily volume of 26.03 lakh shares. The stock gained 6.20% to Rs.470.75. Volumes stood at 71.13 lakh shares in the last session.

Max Healthcare Institute Ltd witnessed volume of 160.34 lakh shares by 14:14 IST on NSE, a 5.02 times surge over two-week average daily volume of 31.94 lakh shares. The stock dropped 7.21% to Rs.736.15. Volumes stood at 123.29 lakh shares in the last session.

Elgi Equipments Ltd recorded volume of 13.09 lakh shares by 14:14 IST on NSE, a 4.47 times surge over two-week average daily volume of 2.93 lakh shares. The stock gained 6.33% to Rs.693.30. Volumes stood at 3.55 lakh shares in the last session.

Powered by Capital Market - Live News

Godrej Properties Ltd, Indian Hotels Co Ltd, Coforge Ltd, PB Fintech Ltd are among the other stocks to see a surge in volumes on BSE today, 01 March 2024.

Suven Pharmaceuticals Ltd registered volume of 15.05 lakh shares by 10:47 IST on BSE, a 227.75 fold spurt over two-week average daily volume of 6607 shares. The stock rose 8.12% to Rs.682.10. Volumes stood at 12152 shares in the last session.

Godrej Properties Ltd clocked volume of 10.06 lakh shares by 10:47 IST on BSE, a 38.84 times surge over two-week average daily volume of 25889 shares. The stock gained 0.69% to Rs.2,413.55. Volumes stood at 17016 shares in the last session.

Indian Hotels Co Ltd notched up volume of 36.49 lakh shares by 10:47 IST on BSE, a 19.89 fold spurt over two-week average daily volume of 1.83 lakh shares. The stock rose 0.23% to Rs.588.60. Volumes stood at 87712 shares in the last session.

Coforge Ltd clocked volume of 1.02 lakh shares by 10:47 IST on BSE, a 15.08 times surge over two-week average daily volume of 6743 shares. The stock lost 0.50% to Rs.6,528.65. Volumes stood at 9771 shares in the last session.

PB Fintech Ltd notched up volume of 13.17 lakh shares by 10:47 IST on BSE, a 10.09 fold spurt over two-week average daily volume of 1.31 lakh shares. The stock slipped 2.70% to Rs.1,136.85. Volumes stood at 45424 shares in the last session.

Powered by Capital Market - Live News