Sequent Scientific Ltd shares rose to a new 52-week high on Friday after the pharmaceutical company announced a merger with Viyash Life Sciences, resulting in a global animal health leader with end-to-end integrated capabilities.
Sequent Scientific shares surged 15.44% to Rs 219.80 on the BSE, up from the previous closing of Rs 190.40. The firm's market capitalization rose to Rs 5,342 crore. The stock was the biggest gainer in early BSE trading today. On the BSE, 9.95 lakh shares of the business changed hands, resulting in a turnover of Rs 20.63 crore.
Sequent Scientific's shares have a beta of 0.9, showing very low volatility over a year. The stock is trading above the five-day, ten-day, twenty-day, thirty-day, fifty-day, hundred-day, 150-day, and 200-day moving averages.
Sequent Scientific's relative strength index (RSI) is 70.3, indicating that the stock is trading in the overbought zone. The merger's goal is to create a unique, differentiated, worldwide end-to-end integrated platform with animal pharmaceutical leadership, backed up by a strong operating and R&D backbone.
Viyash (includes Group Companies) is a global pharmaceuticals company focused on R&D and intellectual property, with a strong client base in more than 150 countries.
Viyash stockholders will get 56 equity shares of SeQuent for every 100 Viyash equity shares under the merger agreement. According to the statement, SeQuent will be the surviving listed firm once the strategy goes into action.
Sequent Scientific is a major integrated pharmaceutical firm with a global presence, focusing on Animal Health (APIs and final dose formulations) and analytical services. The firm is headquartered in Thane, India, and has eight production plants in India, Turkey, Brazil, Spain, and Germany.
