India's Gufic Biosciences jumps on Motilal investment

Motilal Oswal Financial Services

01/09/2023 09:53

** Shares of Gufic Biosciences  GUFI.NS  rise as much as
7.6% to a record high of 333 rupees
    ** Institutional investor Motilal Oswal Financial Services
 MOFS.NS  to buy 3.32% stake in active pharmaceutical
ingredients maker for 999.9 million rupees ($12.1 million)
    ** GUFI issues preferential shares to MOFS at 300 rupees per
share
    ** Stock most active since June 16, with ~1.32 mln shares
traded by 2:17 p.m. IST
    ** Stock set for best week since June 16; currently up over
14% this week


($1 = 82.7096 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))