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Celestial Labs Acquires Channel Partnership Of Microsoft, Stock Surges 8%

Shilpa Mahapatre 18 July 2008

Celestial Labs, leading developer of biopharmaceuticals and industrial enzymes, has acquired the channel partnership of Microsoft to strengthen its ERP business.

Hyderabad-based firm has informed that the main promoter of the Company, Dr. A N Singh is in the process transferring IPR rights worth total 11 crore as valued to the Company.

However, Dr. A N Singh entitlement is 8.17 crore out of which he shall claim worth Rs 2.5 Crore shares not exceeding 5% on expended capital.

This exercise shall immensely help the Company to increase the business in the smaller and medium sectors of ERP business.

Shares of the company gained Rs 3, or 8%, to settle at Rs 36. The total volume of shares traded was 11,480 at the BSE. (Thursday)

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