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New Australian JV props up Cadila Healthcare

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 5:33 PM IST
The announcement of a new joint venture with an Australian firm boosted Cadila Healthcare stock in Monday's trading.
 
The company announced of a joint venture with Mayne Group to explore opportunities to construct and operate selected cytotoxic (anticancer) finished products and API manufacturing facilities in India.
 
A result, the stock was up .16 per cent to close at Rs 515.60, after hitting an intra-day high of Rs 522. The gains were, however, on thinly traded volumes of little over 11,000 shares on the BSE.
 
Pharma analysts said that a lot of action is expected from the mid-cap pharma companies as a host of them are either exploring the possibility of either raising money in the overseas market.

 
 

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First Published: Dec 14 2004 | 12:00 AM IST

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