Introduction:
Leading pharma stock has received approval for the creation of India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO). This move, backed by significant equity funding, will integrate biologics manufacturing & position the entity for growth.
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Share price movement of Strides Pharma Science Limited:
On 21 November 2024, Strides Pharma Science Ltd (NSE: STAR) stock opened at ₹1432.95, reflecting a 2.88% increase from the previous close of ₹1392.50. It touched an intraday high of ₹1486.15 and a low of ₹1391.30.
By 11:50 AM, the stock was trading at ₹1480.75, up 6.34%. The company’s market capitalization stands at ₹13,616.71 crore.
Strides Pharma receives NCLT Approval for OneSource:
Strides Pharma Science Ltd has received approval from the National Company Law Tribunal (NCLT) for the creation of OneSource, India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO). This approval enables integration with Steriscience.
The integration of Strides, Steriscience, and OneSource’s biologics CDMO business is backed by an equity commitment of ₹8,010 million (USD 95 million). This positions OneSource for growth in biologics and advanced manufacturing, with a pre-money valuation of USD 1.65 billion.
OneSource plans to list its shares on BSE and NSE, subject to regulatory approvals. Strides shareholders will receive one equity share of OneSource for every two Strides shares held, as part of the demerger process.
Recent news on Strides Pharma Science Limited:
As of November 19, 2024, Strides Pharma Science Limited is facing concerns due to its low Return on Equity (ROE), and the company also has a high debt-to-equity ratio of 1.00, raising questions about its financial stability. Despite this, its growth potential remains reasonable.
Ace investor holding in Strides Pharma Science Limited:
Mukul Mahavir Agrawal
Mukul Mahavir Agrawal holds a 1.52% stake in Strides Pharma Science Ltd, owning 1,400,000 shares valued at ₹209.6 crore. This significant shareholding reflects his notable investment in the company and confidence in its future growth prospects.
Stock performance of Strides Pharma Science Limited for Period of 1 week, 6 months and 1 year:
Strides Pharma Science Ltd has shown a mixed performance in recent times. Over the past week, the stock has declined by 1.63%. However, its long-term performance remains strong, with an impressive 62.2% return over the last six months and a remarkable 186% return over the past year, indicating robust growth and market confidence.
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Shareholding pattern of Strides Pharma Science Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 25.80% | 25.90% | 25.90% |
| FII | 30.10% | 26.70% | 24.60% |
| DII | 18.30% | 18.60% | 18.10% |
| Public | 25.80% | 28.90% | 31.50% |
About the company Strides Pharma Science Limited:
Strides Pharma Science Ltd (NSE: STRIDES), established in 1990, specializes in developing and manufacturing pharmaceutical products. With a focus on generic formulations, the company operates in over 100 countries, offering products across regulated and emerging markets, backed by 7 manufacturing facilities and 280+ ANDA filings.
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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
