Aarti Pharmalabs surges on entering into agreement with Pro-zeal Green Power
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Aarti Pharmalabs is currently trading at Rs. 682.95, up by 13.90 points or 2.08% from its previous closing of Rs. 669.05 on the BSE.
The scrip opened at Rs. 660.35 and has touched a high and low of Rs. 692.05 and Rs. 660.35 respectively. So far 5851 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 721.00 on 29-Aug-2024 and a 52 week low of Rs. 380.65 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 692.05 and Rs. 637.90 respectively. The current market cap of the company is Rs. 6189.76 crore.
The promoters holding in the company stood at 46.10%, while Institutions and Non-Institutions held 18.74% and 35.16% respectively.
Aarti Pharmalabs has entered into a Share Subscription and Shareholder’s Agreement with Pro-zeal Green Power (Promoter Company), Special Purpose Vehicle (SPV) formed for developing, constructing, operating and maintaining a solar power plant, for acquisition of 26.25% of the Equity Shares/ Voting Rights of SPV and Compulsory Convertible Debentures.
To meet the green energy needs and optimise the energy costs, the company will acquire 26.25% equity stake in SPV as per Electricity Laws. The said acquisition is expected to be completed within 30 days from the execution of share subscription and shareholders’ agreement. Cost of acquisition is Rs 2.97 crore.
Aarti Pharmalabs (APL) (Formerly known as Aarti Organics) is a leading Indian manufacturer of Pharmaceuticals and Nutraceuticals with a global footprint.
