Combat Drugs surges on getting nod to acquire Limited Liability Company in US

Combat Drugs is currently trading at Rs. 23.60, up by 0.30 points or 1.29% from its previous closing of Rs. 23.30 on the BSE.

The scrip opened at Rs. 23.60 and has touched a high and low of Rs. 24.40 and Rs. 23.60 respectively.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 30.40 on 14-Nov-2018 and a 52 week low of Rs. 18.95 on 03-Jan-2019.

Last one week high and low of the scrip stood at Rs. 28.45 and Rs. 23.30 respectively. The current market cap of the company is Rs. 18.64 crore.

The promoters holding in the company stood at 58.00%, while Institutions and Non-Institutions held 0.02% and 41.98% respectively.

Combat Drugs has received approval for acquisition of a Limited Liability Company (LLC) based in the United States of America. The LLC is operating in the field of Information Technology Services specializing in ERP Solutions, Business Intelligence, Data Warehousing, Software Development, Consulting, Programming and Offshore Development. The Board of Directors of the Company at its meeting held on August 12, 2019 has approved the same.

The Board with a view of making the company’s global presence in the field of Pharma and Information Technology, is considering the proposal of the acquisition of LLC, subject to Due Diligence of the LLC and its authorized representatives and the Feasibility and Viability report.

Combat Drugs manufactures and markets pharmaceutical formulations in India. The company offers its products in various forms, such as tablets, capsules, liquid orals, and ointments.

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