Shilpa Medicare up 6%, to acquire Navya Biologicals

Moneycontrol BureauShare of Shilpa Medicare added 6.2 percent intraday Tuesday as it has approved the amalgamation of Navya Biologicals with itself.The company's board has approved the acquisition of Navya Biologicals in exchange for 14 lakh shares of company to be issued to the shareholders of Navya Biologicals.The acquisition is subject to approval from requisite authorities and will be completed in 7 to 8 months.At 09:47 hrs Shilpa Medicare was quoting at Rs 504, up Rs 19.20, or 3.96 percent on the BSE.Posted by Rakesh Patil