Elder Pharmaceuticals is currently trading at Rs. 318.00, up by 3.75 points or 1.19% from its previous closing of Rs. 314.25 on the BSE.
The scrip opened at Rs. 317.00 and has touched a high and low of Rs. 321.80 and Rs. 313.50 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 474.00 on 05-Dec-2012 and a 52 week low of Rs. 267.05 on 16-Aug-2012.
Last one week high and low of the scrip stood at Rs. 333.00 and Rs. 286.10 respectively. The current market cap of the company is Rs. 645.48 crore.
The promoters holding in the company stood at 39.89% while Institutions and Non-Institutions held 22.92% and 37.18% respectively.
Elder Pharmaceuticals will be investing about Rs 15-20 crore over the next two-three years for marketing and manufacturing of cosmetics. The company plans to manufacture cosmetics at its existing plant in Paonta Sahib in Himachal Pardesh which is also making pharmaceutical products.
The pharma major has recently entered into an agreement with Japan's Kose Corporation to form a 40:60 JV company ‘Kose Elder (India)’ to manufacture and sell cosmetics in the market. Through this JV, Kose will focus on the Indian market for manufacturing and selling cosmetics in India.
The cosmetics manufacturing is an altogether different area for the company and is looking at both the mass segment and the prestige segments. All the products are intended to be ‘Made in India’ products.
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