Natco Pharma surges on getting CTPR launch approval from Delhi High Court
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Natco Pharma is currently trading at Rs. 652.85, up by 15.45 points or 2.42% from its previous closing of Rs. 637.40 on the BSE.
The scrip opened at Rs. 653.00 and has touched a high and low of Rs. 660.00 and Rs. 648.95 respectively. So far 36703 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 942.15 on 17-Jan-2022 and a 52 week low of Rs. 600.10 on 12-Sep-2022.
Last one week high and low of the scrip stood at Rs. 660.00 and Rs. 605.75 respectively. The current market cap of the company is Rs. 11904.55 crore.
The promoters holding in the company stood at 48.80%, while Institutions and Non-Institutions held 26.95% and 24.25% respectively.
Delhi High Court has allowed Natco Pharma to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process. CTPR technical is formulated into broad-spectrum insecticides used across wide range of crops for pest management. The company estimates the current market size of CTPR containing products in India to be over Rs 2000 crore. The Company plans to launch its products very shortly.
Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
