Unichem Laboratories gained 4.7% at Rs 184 after the company said in a release late Friday, that the board has approved the sale of new formulation manufacturing unit on a slump sale basis to Mylan Laboratories Limited for a total consideration of Rs. 160.50 crores.
The unit sold is located at Industrial Area, Special Economic Zone, Phase 2, of Tehsil Dhar of the Dhar District, Madhya Pradesh, comprising an area measuring 1,17,301 square meters. The proposed sale is subject to execution of a definitive agreement and approval of shareholders through a postal ballot and on receipt of requisite/regulatory approvals.
The stock touched a high of Rs 193 and a low of Rs 178 thus far. Over 5.6 million shared were traded on the BSE.
