Divi's Laboratories surges on planning for capacity addition at manufacturing facility
Divi's Laboratories is currently trading at Rs. 3988.50, up by 147.75 points or 3.85% from its previous closing of Rs. 3840.75 on the BSE.
The scrip opened at Rs. 3855.00 and has touched a high and low of Rs. 4018.00 and Rs. 3840.75 respectively. So far 17087 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4072.35 on 04-Jan-2024 and a 52 week low of Rs. 3050.15 on 22-May-2023.
Last one week high and low of the scrip stood at Rs. 4018.00 and Rs. 3674.20 respectively. The current market cap of the company is Rs. 104872.04 crore.
The promoters holding in the company stood at 51.92%, while Institutions and Non-Institutions held 36.89% and 11.19% respectively.
Divi's Laboratories is in the process of entering into a long-term supply agreement with a customer and is planning for capacity addition at its manufacturing facility with an estimated investment between Rs 650 crore to Rs 700 crore, to be funded from internal accruals. The proposed facility is expected to be operational around January 2027. Due to the confidentiality agreement signed with the customer, the Company is not permitted to disclose any further quantitative details.
Divi's Laboratories is one of the leading pharmaceutical companies in the world.
