Panchsheel Organics jumps on getting land on lease in Indore
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Panchsheel Organics is currently trading at Rs. 265.00, up by 0.60 points or 0.23% from its previous closing of Rs. 264.40 on the BSE.
The scrip opened at Rs. 260.00 and has touched a high and low of Rs. 274.85 and Rs. 260.00 respectively. So far 4050 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 425.55 on 05-Sep-2022 and a 52 week low of Rs. 94.43 on 24-Nov-2021.
Last one week high and low of the scrip stood at Rs. 303.00 and Rs. 257.65 respectively. The current market cap of the company is Rs. 315.63 crore.
The promoters holding in the company stood at 58.08%, while Institutions and Non-Institutions held 0.14% and 41.78% respectively.
Panchsheel Organics has been allotted a land admeasuring 19163 sq. meters (approximately 5 Acre) on lease for 99 years at DMIC Vikram Udyogpuri Biotech Park near Indore for a total consideration of Rs 3 crore excluding taxes and the Company is in the process of completing all the regulatory formalities.
This allocation and subsequent allotment of land within the DMIC Vikram Udyogpuri Biotech Park near Indore will allow the company to setup an additional fermentation unit in Indore, over and above the new unit coming up in Pithampur, MP (Madhya Pradesh) and de-risk the company from a single location. This new facility will also have capability to manufacture API/Intermediates and can gradually be scaled up to 120 TPA at the same location. Total investment envisaged in this project stands at up to Rs 70 crore (excluding working capital requirements).
Panchsheel Organics manufacturers and exporters of Active Pharma Ingredients (APIs), Intermediates & Finished Formulations (both Human & Veterinary) having a wide experience of more than three decades in the healthcare field.
