Lupin, Symbiotec decide not to pursue their MoU

Lupin Ltd has announced that the Company had earlier announced that it had signed a MoU with Symbiotec Pharmalab Ltd (Symbiotec), an Indian Company focussed on steroids, for a joint venture by making an equity investment in Symbiotec for a majority stake.

Based on subsequent discussions, both the parties have now mutually agreed not to pursue the said MOU. However, both the parties continue discussions for possible areas of cooperation in the future.

The stock closed the day at Rs.711.15, up by Rs.3.70 or 0.52%. The stock hit an intraday high of Rs.724.50 and low of Rs.705.25. The total traded quantity was 103339 compared to 2 week average of 117683.

Source : Equity Bulls

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