Laurus Labs jumps 4% on acquisition of Richcore Lifesciences
The stock has rallied 10 per cent over the last one week, and has jumped more than 300 per cent year-to-date.
By ETMarkets.com |
BCCL - Non Copyright
MUMBAI: Drug firm Laurus Labs rallied nearly 4 per cent on Thursday as investors cheered its acquisition of a majority stake in a biotech firm.
At 9:39 am, Laurus Labs was up 3.67 per cent at Rs 295.50, while benchmark Sensex climbed 0.07 per cent to 43,860.46 points.
On Wednesday, Laurus Labs said it has signed definitive agreements with Eight Roads Ventures, VenturEast Proactive Fund and VenturEast Life Fund III to acquire 72.55 per cent stake in biotech firm Richcore Lifesciences for a cash consideration of Rs 246.67 crore.
The stock has rallied 10 per cent over the last one week, and has jumped more than 300 per cent year-to-date.
At 9:39 am, Laurus Labs was up 3.67 per cent at Rs 295.50, while benchmark Sensex climbed 0.07 per cent to 43,860.46 points.
On Wednesday, Laurus Labs said it has signed definitive agreements with Eight Roads Ventures, VenturEast Proactive Fund and VenturEast Life Fund III to acquire 72.55 per cent stake in biotech firm Richcore Lifesciences for a cash consideration of Rs 246.67 crore.
The stock has rallied 10 per cent over the last one week, and has jumped more than 300 per cent year-to-date.
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