Divi's Laboratories surges on inking supply agreement with global pharmaceuticals firm
Divi's Laboratories is currently trading at Rs 5815.00, up by 176.65 points or 3.13% from its previous closing of Rs 5638.35 on the BSE.
The scrip opened at Rs 5869.70 and has touched a high and low of Rs 5905.00 and Rs 5798.70 respectively. So far 10370 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 6448.75 on 02-Dec-2024 and a 52-week low of Rs 3640.10 on 19-Apr-2024.
Last one week high and low of the scrip stood at Rs 5905.00 and Rs 5592.70 respectively. The current market cap of the company is Rs 154369.98 crore.
The promoters holding in the company stood at 51.89%, while Institutions and Non-Institutions held 38.72% and 9.39% respectively.
Divi's Laboratories has inked a supply agreement with a global pharmaceuticals firm. Under the long-term agreement, the company will be manufacturing and supplying advanced intermediates as per the commercial terms agreed between the parties. The company expects meaningful revenue contribution from this long-term agreement.
The company is planning for capacity addition at its manufacturing facilities with an estimated investment between Rs 650 crore to Rs 700 crore, to be funded from internal accruals.
Divi's Laboratories is one of the leading pharmaceutical companies in the world.
