Stocks

Solara jumps on merger plans

Our Bureau Chennai | Updated on April 12, 2021

The stock of Solara Active Pharma jumped over 9 per cent to ₹1,529 on the BSE after the company said its board has accepted the recommendations of the committee of independent directors and audit committee and has approved the amalgamation of Aurore, Empyrean and Hydra with itself.

The merger is EPS accretive and will enhance other important financial ratios for Solara, the company said in a notice to the stock exchanges.

However, the stock could not sustain its initial rally and closed with a gain of 5.11 per cent at ₹1,440.90 on the BSE.

Published on April 12, 2021

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