Sequent Scientific hits record high on plans to buy Lyka's animal business

Shares of Sequent Scientific have rallied nearly 8% to Rs 889, also their record high on the BSE, after the pharmaceutical company announced plans to acquire the animal health business of Lyka Exports  Stock Market Trading Tips

Alivira Animal Health, a subsidiary of Sequent Scientific, has entered into a definitive agreement with Lyka Exports, a subsidiary of Lyka Labs, under which Alivira will acquire the animal health business of Lyka Exports on a going concern basis  Indian Stock Market  Astrology Prediction

The proposed acquisition of Lyka’s animal health business includes all IPRs, sales/marketing/distribution network with related employees, contracts, assets and liabilities.

In FY15, Lyka’s animal health business registered a top line of close to Rs 23.50 crore with EBITDA margins in the range of 12%. The business is growing by over 30% during the ongoing financial year (FY16), Sequent Scientific said in a press release.

The stock has surged by 27% in the past four trading sessions, from Rs 702 on August 24, compared to a 3.3% rise in the S&P BSE Sensex   Himanshu Tiwari Astrologer Blog
At 10:47 AM, the stock was up 1.47% at Rs 840 on the BSE. Around 19,000 shares have changed hands on the counter so far against an average 24,000 shares that were traded daily in the past two weeks on the BSE.