Concord Biotech trades jubilantly on getting nod to make investment of Rs 6.10 crore in Clean Max Everglades
Concord Biotech is currently trading at Rs. 1782.45, up by 260.70 points or 17.13% from its previous closing of Rs. 1521.75 on the BSE.
The scrip opened at Rs. 1525.45 and has touched a high and low of Rs. 1791.00 and Rs. 1518.35 respectively. So far 17735 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2658.00 on 20-Sep-2024 and a 52 week low of Rs. 1326.90 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 1795.00 and Rs. 1481.45 respectively. The current market cap of the company is Rs. 18203.22 crore.
The promoters holding in the company stood at 44.08%, while Institutions and Non-Institutions held 17.92% and 38.00% respectively.
Concord Biotech has received approval for an investment of Rs 6.10 crore through subscription to Right issue of shares in Clean Max Everglades (Clean Max) for installation of hybrid renewable energy plant in the State of Gujarat having a wind capacity of 6.6 MW and solar capacity of 3.3 MWp DC for the plant of the Company situated at Dholka.
Investment in 26% equity share capital in Clean Max, renewable energy aligns with the company’s commitment to sustainability and it’s focused efforts to address environmental challenges. By transitioning to renewable energy sources, the company will reduce its carbon footprint, contributing to global efforts to combat climate change. Additionally, renewable energy offers long-term financial benefits, including reduction in energy costs. This strategic investment reinforces the company’s commitment to environmental responsibility, ensuring compliance with evolving environmental regulations, and supporting sustainable growth while enhancing operational efficiency. The Board of Directors of the company in their meeting held on March 4, 2025 has approved the same.
Concord Biotech is an India-based biopharma company and one of the leading global developers and manufacturers of select fermentation-based APIs across Immunosuppressants and oncology.
