Eiko Lifesciences Ltd enters into MOU with Delicare Lifesciences Pvt Ltd

Eiko Lifesciences Limited has entered into a Memorandum of Understanding ("MOU") with M/s. Delicare Lifesciences Private Limited. This MOU provides for use of existing and future manufacturing facilities of M/s. Delicare Lifesciences Private Limited and M/s. Eiko Lifesciences Limited in mutual interest of both the Companies. Further this MOU provides for assistance in the form of efficient working Capital Management, development and commercialisation of new products, logistic supply chain management support etc. This will also benefit your Company in the smooth management of its day-to-day operation including manufacturing facilities at Badlupur, DistThane, Maharashtra and operational cost reduction of the company. Company expects to be benefitted from this arrangement from the third quarter of this financial year onwards.

Shares of Eiko Lifesciences Limited was last trading in BSE at Rs. 38.00 as compared to the previous close of Rs. 37.80. The total number of shares traded during the day was 229 in over 7 trades.

The stock hit an intraday high of Rs. 40.00 and intraday low of 37.80. The net turnover during the day was Rs. 8702.00.

Source : Equity Bulls

Keywords

EikoLifesciences INE666Q01016 MoU DelicareLifesciences