SMS Lifesciences locked in upper circuit; zooms 252% since listing
The stock was up 5% at Rs 475, appreciating 252% from Rs 135, since its listing on August 17, 2017 on BSE, against 2% rise in Sensex
 "SMS Lifesciences frozen upper circuit for 24 days; zooms 252% since listing")
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SMS Lifesciences is locked in upper circuit for the 24th straight session, up 5% at Rs 475 on BSE, with only buyers were seen on the counter.
Till 1:44 PM, a combined 13,011 shares have changed hands on NSE and BSE and there were pending buy orders for 16,854 shares on both the exchanges.
Since its listing on August 17, 2017, the stock has appreciated by 252% from Rs 135, as compared to 2% rise on the S&P BSE Sensex. On the National Stock Exchange (NSE), it was listed on September 1, at price of Rs 230.
SMS Lifesciences India is presently engaged in the business of manufacturing, buying, selling, offering consultancy, importing and exporting, acting as commission agents and generally dealing with of all types of organic & inorganic chemicals, pharmaceuticals, active pharmaceutical ingredients (API) and intermediates.
The Board of SMS Pharmaceuticals in 2016 had approved the “Draft Scheme of Arrangement for Demerger of Semi Regulated Units (Unit - I, IV & V) along with other Assets to transfer the same to SMS Lifesciences India (Resulting Company), with an object to reduce the impact of Semi Regulated Units on Regulated Units, achieving operational efficiencies, site synergies and streamlining its current structure.
SMS Lifesciences India had issued shares to all the shareholders of the SMS Pharmaceuticals as consideration for the transfer of the demerged undertaking, in proportion of 1(one) equity share of Rs 10 each of SMS Lifesciences India for every 28 (twenty eight) equity shares of Re 1 each held by the shareholders in SMS Pharmaceuticals.
SMS Pharmaceuticals was trading 4% higher at Rs 92.50 on BSE.
Till 1:44 PM, a combined 13,011 shares have changed hands on NSE and BSE and there were pending buy orders for 16,854 shares on both the exchanges.
Since its listing on August 17, 2017, the stock has appreciated by 252% from Rs 135, as compared to 2% rise on the S&P BSE Sensex. On the National Stock Exchange (NSE), it was listed on September 1, at price of Rs 230.
SMS Lifesciences India is presently engaged in the business of manufacturing, buying, selling, offering consultancy, importing and exporting, acting as commission agents and generally dealing with of all types of organic & inorganic chemicals, pharmaceuticals, active pharmaceutical ingredients (API) and intermediates.
The Board of SMS Pharmaceuticals in 2016 had approved the “Draft Scheme of Arrangement for Demerger of Semi Regulated Units (Unit - I, IV & V) along with other Assets to transfer the same to SMS Lifesciences India (Resulting Company), with an object to reduce the impact of Semi Regulated Units on Regulated Units, achieving operational efficiencies, site synergies and streamlining its current structure.
SMS Lifesciences India had issued shares to all the shareholders of the SMS Pharmaceuticals as consideration for the transfer of the demerged undertaking, in proportion of 1(one) equity share of Rs 10 each of SMS Lifesciences India for every 28 (twenty eight) equity shares of Re 1 each held by the shareholders in SMS Pharmaceuticals.
SMS Pharmaceuticals was trading 4% higher at Rs 92.50 on BSE.