Sanofi India rises on report parent co looking to spin off consumer business in India

Sanofi India

31/03/2023 07:32

** Shares of Sanofi India Ltd  SANO.NS  rise as much as 3% to 5790 rupees
    ** Parent Sanofi SA  SASY.PA  has started a process to turn its India
consumer healthcare business into a listed entity via a demerger according to a
media report on Friday 
    ** Sanofi India did not immediately respond to a Reuters' request for
comment
    ** Stock trading above its 50- and 100-day simple moving average
    ** Seven of 8 analysts covering the stock have a "buy" or "strong buy"
rating, while one has "hold"; median PT is 6635 rupees - Refinitiv data
    ** Stock down ~4.1% YTD, as of last close

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))