Tuesday , September 21 2021

Morepen Laboratories trades higher on incorporating wholly owned subsidiary company

Morepen Laboratories is currently trading at Rs. 54.15, up by 0.75 points or 1.40% from its previous closing of Rs. 53.40 on the BSE.

Morepen Laboratories

The scrip opened at Rs. 53.50 and has touched a high and low of Rs. 54.75 and Rs. 53.45 respectively. So far 73161 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 75.00 on 06-Jul-2021 and a 52 week low of Rs. 22.30 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 56.95 and Rs. 52.25 respectively. The current market cap of the company is Rs. 2440.31 crore.

The promoters holding in the company stood at 34.54%, while Institutions and Non-Institutions held 2.73% and 62.73% respectively.

Morepen Laboratories has incorporated a wholly owned subsidiary namely ‘Morepen Devices’on September 06, 2021. The company has incorporated wholly owned subsidiary to carry on the business of marketing, manufacturing, buying, selling, supplying, importing, exporting, distributing, formulate, process, develop, refine, wholesale, retail, online trade, processing, packing, re-packing, trading including to act as mercantile agents, clearing and forwarding agents, brokers, consignors, consignees, conversion agents, distributors, stockiest or processors, service providers, dealers, of all kinds of medical, diagnostic, healthcare equipment/ instruments, point of care devices.

Morepen Laboratories is a well-known pharma company having well equipped Research & Development Centre and is all set to seize the Generic revolution in pharma industry, by filing multiple DMFs and COS for new APIs.

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