Strides Pharma saw its shares rise by 3.5%, reaching an intraday high of ₹1,442 per share on November 21, 2024. This spike in buying interest followed the National Company Law Tribunal's (NCLT) approval of the company's scheme of arrangement to create OneSource. As of 11:02 AM, the stock was trading at ₹1,427 per share, up 2.48%, while the BSE Sensex slipped 0.69% to 77,043.33.
Why are investors eyeing strides in pharma?
The NCLT nod enables Strides Pharma to consolidate its specialised businesses, including Steriscience and the biologics CDMO division from Stelis Biopharma, under OneSource. With an equity commitment of ₹801 crore ($95 million) from prominent investors and a valuation of $1.65 billion, OneSource is poised for exponential growth. This makes Strides a compelling option for those looking to invest in stocks with robust prospects.
Once operational, OneSource will list its shares on the BSE and NSE. Strides shareholders will benefit significantly, receiving one OneSource share for every two Strides shares held. The demerged undertakings will officially vest with OneSource from April 1, 2024, marking a transformative phase for the company and its stakeholders.
Performance and long-term appeal
Strides Pharma's stock has delivered a stellar performance, gaining 180.88% over the past year, compared to the Sensex's 18% rise. The company's market capitalisation now stands at ₹13,122.44 crore, reflecting its growing prominence in the pharmaceutical sector. Its 52-week high of ₹1,675.25 and low of ₹482.5 underscore its significant upside potential.
For investors aiming to invest in stocks with strong fundamentals and industry leadership, Strides Pharma offers a blend of short-term momentum and long-term growth. The company's strategic focus on affordable healthcare and its global reach further enhance its appeal.
Key takeaways
Why invest: A 180.88% stock gain over the past year makes Strides Pharma a strong candidate to invest in stocks with potential for future growth.
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