Shares of extended their rally to a second straight session on Tuesday, April 28, surging as much as 17% intraday after jumping 20% in the previous session.
The stock, which had hit its upper circuit limit at ₹432.10 on the NSE on Monday, has now gained about 37% over the past two sessions. The sharp rally follows the company’s announcement appointing former Cipla CEO Umang Vohra as Executive Chairman and Group CEO.
On Tuesday, the stock opened at ₹444.45, higher than the previous close of ₹432.10, and climbed to an intraday high of ₹514.65.
Cohance Lifesciences appoints new CEO
In an exchange filing dated 27 April, Cohance Lifesciences announced former Cipla CEO Umang Vohra as the new Executive Chairman, effective May 1 and Group CEO, effective May 20.
The company further informed that Vohra succeeds Vivek Sharma, who stepped down as Executive Chairman for personal reasons. However, Sharma will continue to be with Cohance as an Advisor for the next 9 months and will support a smooth transition.
“The appointment of Vohra reflects a deliberate, strategic decision taken by the Board to bring in a leader whose profile is specifically suited to the demands of the company’s transformation and its next phase of growth,” the company said.
Over a career spanning more than three decades, Vohra has led large, complex, global businesses through periods of strategic transformation while maintaining an unwavering focus on customers, quality and operational excellence.
Most recently, as CEO and Managing Director of Cipla Limited, Vohra led the company’s transformation over the last decade to build a diversified global pharmaceutical enterprise. Having worked in and transformed two very large and respected Pharma companies in India, Vohra brings an owner-mindset and vast experience in business to the Cohance platform.
“I am very excited to be joining Cohance. I believe deeply in the long-term value creation potential of this platform. Cohance’s technology offerings, depth of its R&D talent, and the quality of the leadership team already in place provide a strong foundation. I am looking forward to this entrepreneurial stint and will work closely with the current management leaders to create value for customers, employees and shareholders alike,” Vohra said.
Cohance Lifesciences Limited is a technology-led, integrated CDMO platform that provides development and manufacturing solutions across complex APIs, performance materials, agrochemicals, ADCs, oligonucleotides, and advanced chemistries for global pharmaceutical and life sciences clients.
Cohance Lifesciences share price trend
share price has remained volatile in the near term. The stock has delivered a whopping return of 40% in a week and 67% in a month.
However, the stock has declined 3.37% year-to-date (YTD) and 56% in a year.
Looking at the broader level, the stock has been unsuccessful in impressing its long-term investors as it has given only 7% returns in three years. However, it has declined 6.57% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.