Drug firm Astec Lifesciences today said it has formed a wholly owned subsidiary 'Astec Crop Care' to start trading in agrochemicals and pesticides formulations.
In a filing to the Bombay Stock Exchange (BSE) Astec Lifesciences said the Company has formed a 100 per cent subsidiary company namely "Astec Crop Care".
It said the main object was to start the business of trading in agrochemicals and pesticides formulation.
The company will sell in local as well as in export market with its own brand name, the Mumbai-based firm said.
To start with, the newly formed unit would launch its products in Gujarat, Karnataka and Maharashtra, it said.
The company has appointed a dedicated team to take the new venture ahead, it added.
Shares of Astec Lifesciences were trading at Rs 64.25 on the BSE in the afternoon trade, up 2.72 per cent from its previous close.
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