Neuland Laboratories is currently trading at Rs. 1450.90, up by 40.75 points or 2.89% from its previous closing of Rs. 1410.15 on the BSE.
The scrip opened at Rs. 1373.00 and has touched a high and low of Rs. 1450.90 and Rs. 1373.00 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1680.00 on 05-Apr-2017 and a 52 week low of Rs. 749.15 on 24-May-2016.
Last one week high and low of the scrip stood at Rs. 1480.00 and Rs. 1336.05 respectively. The current market cap of the company is Rs. 1,289.02 crore.
The promoters holding in the company stood at 51.68%, while Institutions and Non-Institutions held 15.85% and 32.47% respectively.
Neuland Laboratories has entered into a Joint Development Agreement (JDA) with Phoenix Embassy Techno Zone (Developer) for development of the land owned by the company at Nanakramguda. The company has requested the developer to arrange for the sale of 0.12 million square feet out of the company’s share. To comply with its obligations under the JDA, the developer nominated Star Bio Products LLP and Premier IT Developers (Developer’s Nominees) to acquire the 0.12 million square feet out of the company’s share on terms that shall be agreed to between the Developer’s Nominees and the company.
Besides, the company has entered into a Supplementary Development Agreement (SDA) with the Developer and others to define, identify, demarcate, allot and allocate Leasable / Saleable Area between the parties in the project and record the commitment of Developer’s Nominees to acquire 0.12 million square feet out of the company’s share.
Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services.
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