RPG Life Sciences shares gained as much as 14 per cent on Wednesday after the company approved the purchase of seven brands from Sun Pharmaceutical Industries for a consideration of Rs 41 crore. At 11.58 am, shares of RPG Life Sciences were trading 8.14 per cent up at Rs 381.20. The scrip opened the day at Rs 378 and has touched a high and low of Rs 402.40 and Rs 370.95, respectively, in trade so far. Sensex was up 104 points at 28,128.39.
In a BSE filing, the company said, “The board of directors of the company at its meeting held on July 27, has approved the acquisition of trade marks from Sun Pharmaceutical Industries and its subsidiary.”
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RPG Life Sciences on Wednesday also announced 361.21 per cent rise in net profit at Rs 9.87 crore for the quarter ended June 30, 2016 against Rs 2.14 crore in the corresponding quarter a year ago. Gross sales of the company jumped by 28.17 per cent year-on-year to Rs 85.23 crore during the quarter under review against Rs 66.50 crore a year ago.
Later, shares of RPG Life closed 8.14 per cent up at Rs 381.20.