TTK Healthcare has rallied almost 5% at Rs 508, extending its two-week long rally on reports that the pharmaceutical company is planning to merge TTK-LIG into itself.
The stock has outperformed the market by gaining about 27% in past ten trading sessions on the BSE as compared to 5% rise in benchmark Sensex.
The company has recently launched its own brand, 'Skore', after buying out the entire stake of the condom manufacturing and distribution business from its foreign partner.
In a filing to the stock exchanges the company said that “TTK Group had decided to buy out the entire interest of its foreign collaborator in TTK-LIG Ltd, a joint venture which had the licence to manufacture Kohinoor and Durex.”
The stock opened at Rs 488 and hit a 52-week high of Rs 511 on the BSE. As many as a combined 174,545 shares have already changed hands on the counter so far against an average around 230,000 shares that were traded daily in past two weeks.
