Sequent Scientific shares rise 15%, hit 52-week high; here's why 

Shares of Sequent Scientific Ltd hit a fresh 52-week high on Friday after the pharma firm said the firm and Viyash Life Sciences have announced a merger that would create a global animal health leader with end-to-end integrated capabilities.

Sequent Scientific stock zoomed 15.44% to Rs 219.80 against the   previous close of Rs 190.40 on BSE. Market cap of the firm climbed to Rs 5,342 crore. The stock was the top gainer in early deals on BSE today.  Total 9.95 lakh shares of the firm changed hands amounting to a turnover of Rs 20.63 crore on BSE.

Sequent Scientific shares have a beta of 0.9, indicating very low volatility in a year. The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Sequent Scientific's relative strength index (RSI) stands at 70.3, which signals the stock is trading in the overbought zone.

The objective of the merger is to build a unique, differentiated, global end-to-end integrated platform with leadership in animal pharmaceuticals, supported by strong operating and R&D backbone. JM Financial was the financial advisor to Sequent on this strategic transaction.

Viyash (including Group Companies) is an integrated, R&D & IP driven global pharmaceuticals business with a strong customer base across 150+ countries. 

Viyash shareholders will get 56 equity shares of SeQuent for every 100 Viyash equity shares under the scheme of merger. SeQuent will be the surviving listed entity once the scheme is effective, it said. 

Sequent Scientific is a leading integrated pharmaceutical company with a global footprint, operating in the domains of Animal Health (APIs and finished dosage formulations) and analytical services. The company is headquartered in Thane, India, with eight manufacturing facilities, based in India, Turkey, Brazil, Spain and Germany.