Arvind Remedies gains on inking MoU to manufacture and market drugs

Arvind Remedies is currently trading at Rs. 48.00, up by 1.30 points or 2.78% from its previous closing of Rs. 46.70 on the BSE.

The scrip opened at Rs. 46.70 and has touched a high and low of Rs. 48.90 and Rs. 46.70 respectively. So far 1,390 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 54.20 on 13-Sep-2013 and a 52 week low of Rs. 24.85 on 01-Mar-2013.

Last one week high and low of the scrip stood at Rs. 48.80 and Rs. 45.25 respectively. The current market cap of the company is Rs. 229.00 crore.

The promoters holding in the company stood at 45.47% while Non-Institutions held 54.53% respectively.

Arvind Remedies has signed a Memorandum of Understanding with (MoU) with four institutions to manufacture and market medicines from botanical source, which are useful for the treatment and management of Neuro-degeneration disorder (like alzheimer, parkinson) and Neuropsychiatry disorders (like depression). The four educational institutions with whom the company has inked MoU are Banaras Hindu University, Adesh University, SRM University and Genome Foundation.

The four institutions had agreed in December 2012, to do the research from their respective fields and since then continuous research and developmental activities were taking place. These products have been patented in India, USA and Europe. This will help the company to enhance the product portfolio and also improve the revenue.

Arvind Remedies is engaged in the manufacturing of pharmaceutical formulations such as tablets, capsules (including soft gels), ointments and liquids. ARL markets its products in the institutional (primarily government organizations) and ethical segments, with institutional segment contributing to 70% of the total revenues.