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Neuland Laboratories rises on getting nod to acquire manufacturing facility

22 Nov 2017 Evaluate

Neuland Laboratories is currently trading at Rs. 1245.00, up by 26.55 points or 2.18% from its previous closing of Rs. 1218.45 on the BSE.

The scrip opened at Rs. 1248.00 and has touched a high and low of Rs. 1299.00 and Rs. 1190.00 respectively. So far 18138 shares were traded on the counter.

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. 877.15 on 22-Feb-2017.

Last one week high and low of the scrip stood at Rs. 1299.00 and Rs. 1142.75 respectively. The current market cap of the company is Rs. 1088.32 crore.

The promoters holding in the company stood at 51.68%, while Institutions and Non-Institutions held 14.31% and 34.01% respectively.

Neuland Laboratories has received an approval for purchase of a manufacturing facility, comprising of land, buildings, plant, machinery and equipment, owned by Arch Pharmalabs situated at Gaddapotharam, Jinnaram Mandal, Sanga Reddy District, under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) from JM Financial Asset Reconstruction Company (JMFARC) by mutual consent.

The purchase would take place by way of execution of a Sale Certificate by JMFARC in accordance with the provisions of the SARFAESI, upon completion certain Conditions. The board of directors at their meeting held on November 22, 2017, has approved for the same.

Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services.

Neuland Laboratories Share Price

14408.95 -539.25 (-3.61%)
24-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1619.95
Dr. Reddys Lab 1315.85
Cipla 1294.75
Zydus Lifesciences 927.15
Lupin 2296.10
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