Ind-Swift Laboratories has advanced 13.76% at Rs 58.30 as there is buzz that the Piramal group may be eyeing its contract research and manufacturing business.
Mumbai-based Piramal Healthcare is in talks with the Chandigarh-headquartered Ind-Swift Laboratories to acquire its contract research and manufacturing business and many of its facilities approved by the US Food and Drugs Administration (US FDA), sources say.
The deal, under negotiation, is valued at Rs 1,000-1,200 crore, at least two persons close to the development have told Business Standard.
In the intraday deal, the stock opened at Rs 53.55 and made a high of Rs 59.40. Around 572,960 shares were traded in BSE.
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