Sudarshan Pharma Industries Shares in Focus As Company Incorporates New Subsidiary

Shares of Sudarshan Pharma Industries are in focus today as the Specialty chemicals company has announced the incorporation of a new subsidiary, Sudarshan Maven Pharma Private Limited (Sudarshan Maven). “We would like to inform you that “SUDARSHAN MAVEN PHARMA PRIVATE LIMITED” is incorporated as a subsidiary of the Company and the Registrar of Companies has issued certificate of incorporation dated 27th August, 2024. The Company has subscribed to 7,000 equity shares of Rs.10/- each aggregating to 70.00% of the subscribed capital of SUDARSHAN MAVEN PHARMA PRIVATE LIMITED,” the company said in an exchange filing.
The counter opened flat at Rs 177 on the BSE and gained slightly to touch an intra-day high of Rs 178. The counter has a 52-week high of Rs 198.20 and a 52-week low of Rs 58.20. The company has subscribed to 70 per cent of the subscribed capital of Sudarshan Maven, amounting to 70,000 equity shares of Rs10 each.
Meanwhile, expectations of strong festival season demand, revival in rural demand, and hopes of interest rate cuts later this fiscal year are expected to support stock markets, brokerage Prabhudas Lilladher said in its latest ‘India Strategy’ report.
Both Nifty and Sensex have remained buoyed over the past month, holding to their latest bull run, despite rising volatility amidst deteriorating geopolitical situation. Normal monsoons have raised hopes of demand revival in the festival season. Inflation coming below RBI’s 4 per cent target in July, sustained capital expenditure spending by the government while being fiscally prudent to have been lending support to the Indian stocks.