Morepen Laboratories Limited approves hiving off of Medical Devices Business

The Board of Directors (the 'Board') of Morepen Laboratories Limited at their meeting held today i.e., Tuesday, January 14, 2025 (commenced at 5.00 p.m. and concluded at 6.40 p.m.), has, considered and approved the hiving off the Medical Devices Business, being an undertaking, to Morepen Medtech Limited, a subsidiary of the company, on a 'slump sale' basis as a going concern. This hiving off is subject to the receipt of requisite regulatory approvals, including approval of the members of the company.

Shares of Morepen Laboratories Limited was last trading in BSE at Rs. 67.92 as compared to the previous close of Rs. 64.90. The total number of shares traded during the day was 225770 in over 1564 trades.

The stock hit an intraday high of Rs. 68.35 and intraday low of 65.00. The net turnover during the day was Rs. 15097055.00.

Source : Equity Bulls

Keywords

MorepenLaboratories INE083A01026 HivingOff MedicalDevicesBusiness