Syngene International incorporates wholly-owned subsidiary; Stock rises

11 Aug 2022 , 10:41 AM

Syngene International Limited has informed that Syngene Scientific Solutions Limited (“SSSL”), a wholly-owned subsidiary company of the Company has been incorporated on August 10, 2022.

As per the filing, SSSL will be a related party of Syngene International Limited as it has been incorporated as a wholly owned subsidiary of the company.

The Industry to which the entity being acquired belongs to Scientific Research and Development and it shall be engaged in Contract Research and Manufacturing Services (CRAMS) and Clinical research services.

At around 10:42 AM, Syngene International was trading at Rs579.90 per share up by Rs1.9 or 0.33% from its previous closing of Rs578 per share on the BSE.

The scrip opened at Rs580.50 and has touched a high and low of Rs583.55 and Rs577 respectively so far today. The current market cap of the company is Rs23,202.91 crore.