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Mangalam Drugs And Organics is currently trading at Rs. 142.55, up by 10.15 points or 7.67% from its previous closing of Rs. 132.40 on the BSE.

The scrip opened at Rs. 139.50 and has touched a high and low of Rs. 144.65 and Rs. 135.00 respectively. So far 41482 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 144.65 on 26-Aug-2024 and a 52 week low of Rs. 85.16 on 15-Apr-2024.

Last one week high and low of the scrip stood at Rs. 144.65 and Rs. 112.90 respectively. The current market cap of the company is Rs. 224.29 crore.

The promoters holding in the company stood at 50.32%, while Institutions and Non-Institutions held 0.21% and 49.47% respectively.

Mangalam Drugs & Organics has been awarded a grant by The Medicines for Malaria Venture (MMV). The grant amounts to $274,800 and is designated for the research and development of Pyronaridine.

The Medicines for Malaria Venture, headquartered in Geneva, Switzerland, is a non-profit organization committed to the development and support of innovative antimalarial therapies. MMV focuses on advancing new treatments for malaria and optimizing combination therapies. The pyronaridine-artesunate combination therapy, endorsed by MMV, leverages the synergistic effects of both drugs to enhance therapeutic efficacy in combating malaria.

The grant will support research and development efforts aimed at improving the technology and efficiency of pyronaridine production. With an estimated international market size to reach 50 million treatments in the next few years, Mangalam Drugs & Organics plans to commercialize this product by the end of 2024 which will position the company at the forefront of global anti-malaria API production and performances.

Mangalam Drugs and Organics is an India-based company engaged in the manufacturing of chemicals, such as active pharma ingredients (API) perfumery, disperse dye intermediates, bulk drugs and bulk drugs intermediates.