Aarti Drugs climbs on getting nod to invest Rs 25 crore in Pinnacle Life Science
Aarti Drugs is currently trading at Rs. 406.65, up by 9.25 points or 2.33% from its previous closing of Rs. 397.40 on the BSE.
The scrip opened at Rs. 399.65 and has touched a high and low of Rs. 408.95 and Rs. 394.00 respectively. So far 5025 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 634.90 on 27-Aug-2024 and a 52 week low of Rs. 388.00 on 28-Jan-2025.
Last one week high and low of the scrip stood at Rs. 416.35 and Rs. 388.00 respectively. The current market cap of the company is Rs. 3695.98 crore.
The promoters holding in the company stood at 55.38%, while Institutions and Non-Institutions held 11.05% and 33.57% respectively.
Aarti Drugs’ board has approved the investment in equity shares of Pinnacle Life Science, wholly owned subsidiary of the company, upto an aggregate value of Rs 25 crore, by way of subscription to the Rights Issue. The investment proceeds will be used by Pinnacle for financing the cost towards expansion/capex plan and other general corporate purpose. The Board of Directors of the company at its meeting held on January 29, 2025, approved the same.
Aarti Drugs is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, Specialty Chemicals and also produces Formulations with its wholly-owned subsidiary - Pinnacle Life Science.
