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Unichem Lab denies report to sale domestic business

By Religare
|

Pharma major Unichem Laboratories Ltd on Monday has denied the news article, on October 12, 2015 mentioning that the company is planning to sell its domestic formulations business, by calling it a rumour.

The company explained as its shares surged nearly 3 per cent on buzz that, the company is exploring a sale of its domestic formulations business, and its proposal is being studied by private equity firms and strategic investors.

 

"There is a news article on October 12, 2015 mentioning that the company plans sale of its Domestic Formulations business. The company denies the same as it is a rumour," said Unichem Laboratories Ltd in a filing to the Bombay Stock Exchange on October 12, 2015.

Meanwhile, shares of the company were trading at Rs 308.70 apiece, up 0.52 per cent, from previous close on BSE at 13:42 hours.

Story first published: Monday, October 12, 2015, 23:00 [IST]
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