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Granules India edges higher on getting nod to divest entire stake held in overseas joint venture

Granules India is currently trading at Rs. 101.20, up by 0.20 points or 0.20% from its previous closing of Rs. 101.00 on the BSE.

The scrip opened at Rs. 101.25 and has touched a high and low of Rs. 103.25 and Rs. 100.00 respectively. So far 13547 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 120.00 on 22-Apr-2019 and a 52 week low of Rs. 79.00 on 10-Dec-2018.

Last one week high and low of the scrip stood at Rs. 105.55 and Rs. 98.25 respectively. The current market cap of the company is Rs. 2570.44 crore.

The promoters holding in the company stood at 42.90%, while Institutions and Non-Institutions held 17.69% and 39.41% respectively.

Granules India has received an approval to divest the entire stake of the company in Granules-Biocause Pharmaceutical, an overseas Joint Venture Company situated in China. Conclusion of this transaction is subject to fulfillment of certain closing conditions as well as applicable regulatory approvals.

The Board of Directors of the company at their meeting held on October 14, 2019, approved the same.

Granules India is manufacturer and supplier of pharmaceutical products. Its products include active pharmaceutical ingredients (API) like tablets, caplets, rapid release, pharmaceutical, formulation intermediates (PFI) and Finished Dosages (FDs).

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