Sequent Scientific Limited - Stake increase in Fendigo BV - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Sequent Scientific Limited announced entering of definitive agreement with Mr. Servatius Justinus Cornelius Maria Van Der Heijden for the acquisition of 15% stake from him in Fendigo BV through Alivira Animal Health Limited, Ireland, Wholly Owned Subsidiary of the Company. Fendigo BV, located at Netherlands, is a trading and distribution arm for animal health products, consolidated number of Fendigo for financial year 2019-20 sales of ₹12.6 crores and net profit of ₹0.9 crores. Sequent Scientific currently holds 85% stake in Fendigo BV and consequent to this acquisition, Fendigo BV will become a Wholly Owned Subsidiary of the Company. This is positive development for the company."

Shares of SEQUENT SCIENTIFIC LTD. was last trading in BSE at Rs.156.15 as compared to the previous close of Rs. 153.75. The total number of shares traded during the day was 108999 in over 2137 trades.

The stock hit an intraday high of Rs. 158.5 and intraday low of 153.85. The net turnover during the day was Rs. 17016954.

Source : Equity Bulls

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