Vivimed Labs in good health

Vivimed Labs is up in the green today morning. The stock opened Rs.11 higher at Rs.336 and went on to an intra day high at Rs.347. It has since then come off the high and is now at Rs.339, up 3.5%.

The stock is up on news that the company has entered into an agreement with Clariant to sell its personal care portfolio. The deal has been valued at Rs.380 crore.

This transaction will help Vivimed significantly improve its financial flexibility for future growth. This transaction, once completed, will position Vivimed optimally to move to the next level of growth, across its speciality chemicals and pharma businesses.