Will use deal capital to pare debt, grow export mkt: Bafna

Strides Arcolab has bought a partial stake in Bafna Pharma for Rs 48.1 crore and this money will be used to pare the debt and grow the export market, says Bafna Mahaveer Chand, chairman and managing director, Bafna Pharma.

Speaking to CNBC-TV18, Chand says the joint venture (JV) will aid Raricap- the company’s flagship brand’s- annual sales.

Bafna and Strides have a deal under which the India branded generics business of Bafna will be transferred to a special purpose vehicle (SPV) in which Strides will hold 74 percent stake while 26 percent will be held by Bafna.

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Strides Arcolab stock price

Strides Arcolab stock price

On July 22, 2014, at 10:34 hrs Strides Arcolab was quoting at Rs 678.55, up Rs 9.85, or 1.47 percent. The 52-week high of the share was Rs 1050.00 and the 52-week low was Rs 343.80.

The company's trailing 12-month (TTM) EPS was at Rs 584.46 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 1.16. The latest book value of the company is Rs 820.12 per share. At current value, the price-to-book value of the company is 0.83.

Source : moneycontrol.com