Plethico Pharmaceuticals looking for acquisition in CIS

Plethico Pharmaceuticals Ltd has announced about the following:

1. The Company has appointed M/s. Singhi Adivsors Ltd, Mumbai (formerly Singhi & Associates) as Company's M&A Advisors on a Global level.

2. The Company plans to do a possible acquisition of a minority stake in a CIS based retail pharmacy Chain Company. This acquisition will enable the Company to de-basket it's credit risks in CIS and help move from Credit Market (distribution) to a Cash Market Segment (Retail Pharmacy).

The stock was trading at Rs.349.60, down by Re.0.35 or 0.10%. The stock hit an intraday high of Rs.352 and low of Rs.343.50. The total traded quantity was 45890 compared to 2 week average of 42157.

Source : Equity Bulls

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