As per the bulk deal data on the NSE, BNP Paribas Arbitrage sold 5,14,463 equity shares or 1.43% stake of Solara Active Pharma Science at Rs 1,463 per share on Monday, 19 April 2021.
On the same day, the Scottish Oriental Smaller Companies Trust Plc bought 1,99,259 equity shares or 0.55% stake of Solara Active Pharma Science at Rs 1,462.25 per share via bulk deal on NSE.
As of 31 March 2021, BNP Paribas Arbitrage held 3.50% stake in Solara Active Pharma Science.
Shares of Solara Active Pharma fell 0.03% to Rs 1,461.30 on BSE. The scrip hit a high of Rs 1,520 and a low of Rs 1,455 so far.
On a consolidated basis, the company posted a 59.2% jump in net profit to Rs 65.78 crore on a 24.2% rise in net sales to Rs 426.69 crore in Q3 FY21 over Q3 FY20.
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Solara jumps on merger plans
April 12, 2021
× The stock of Solara Active Pharma jumped over 9 per cent to ₹1,529 on the BSE after the company said its board has accepted the recommendations of the committee of independent directors and audit committee and has approved the amalgamation of Aurore, Empyrean and Hydra with itself.
The merger is EPS accretive and will enhance other important financial ratios for Solara, the company said in a notice to the stock exchanges.
However, the stock could not sustain its initial rally and closed with a gain of 5.11 per cent at ₹1,440.90 on the BSE.
Published on
April 12, 2021
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Shares of Solara Active Pharma moved higher by 12 per cent to Rs 1,529 on the BSE in the intra-day trade on Monday after the company said it has approved the amalgamation with Aurore Life Sciences (Aurore), Empyrean and Hydra in an all-stock transaction. The stock was trading higher for the fourth straight day, and has rallied 16 per cent during the period. It hit a 52-week high of Rs 1,625 on February 12.
Solara is engaged in the business of manufacturing and development of Active Pharmaceutical Ingredients (API) and also offers Contract Manufacturing and Development Services (CMDS) to the global companies. Aurore Life Science, meanwhile, is engaged in the business of developing wide range of generic pharmaceutical products.
The board of directors of Solara Active Pharma Sciences on 9 April 2021 approved the amalgamation of Aurore Life Sciences, Empyrean Lifesciences and Hydra Active Pharma Sciences with the company.The combination creates a pure play API company of scale with strong presence in regulated markets, emerging markets, a broad product portfolio, robust operations infrastructure, excellent R&D capabilities and clear synergies to further accelerate growth for the combined entity.
The merger is EPS accretive to Solara and will enhance other important financial ratios for Solara. The merger is in line with Solara s strategy of accelerating growth via appropriate inorganic actions. The combined entity will have the scale of market presence and product portfolio combined with robust manufacturing and R&D infrastructure to grow into a leading global pure play API and CRAMS company.