Ind-Swift Laboratories gains on entering into joint venture to explore opportunities in pharmaceutical field
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Ind-Swift Laboratories is currently trading at Rs. 59.60, up by 1.10 points or 1.88% from its previous closing of Rs. 58.50 on the BSE.
The scrip opened at Rs. 60.55 and has touched a high and low of Rs. 60.55 and Rs. 59.15 respectively. So far 623 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 127.35 on 20-Jul-2021 and a 52 week low of Rs. 51.10 on 31-May-2022.
Last one week high and low of the scrip stood at Rs. 60.90 and Rs. 57.35 respectively. The current market cap of the company is Rs. 349.50 crore.
The promoters holding in the company stood at 42.00%, while Institutions and Non-Institutions held 19.55% and 38.44% respectively.
Ind-Swift Laboratories has entered into a Joint Venture, which shall be operated through a newly incorporated entity viz MJM Remedies, where the Company shall have 75% stake and rest 25% stake shall be held by Ramesh Mehta. The new joint venture will explore the opportunities in the pharmaceutical field. MJM Remedies belongs to pharmaceutical industry.
Ind-Swift Laboratories is global manufacturer of Active Pharmaceutical Ingredients (API), Intermediates and formulations (through group collaboration).
