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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Infosys: The company on Sunday said its board will consider a buyback proposal at its meeting on April 14.
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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.