Morepen Laboratories` zooms as its arm executes JV agreement with Bimedical FZE
Morepen Laboratories scrip is currently trading at Rs. 50.97, up by 1.87 points or 3.81% from its previous closing of Rs. 49.10 on the BSE.
The scrip opened at Rs. 49.62 and has touched a high and low of Rs. 51.93 and Rs. 49.62 respectively. So far 476914 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 100.80 on 10-Sep-2024 and a 52 week low of Rs. 41.66 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 51.93 and Rs. 48.37 respectively. The current market cap of the company is Rs. 2802.78 crore.
The promoters holding in the company stood at 35.65%, while Institutions and Non-Institutions held 3.24% and 61.11% respectively.
Morepen Laboratories’ subsidiary -- Morepen Medipath has executed a Joint Venture (JV) agreement with Bimedical FZE, to form a JV company. The proposed JV company will carry on the business of manufacturing, trading and selling of medical devices related products.
The Morepen Medipath will acquire 50% shareholding in the proposed JV company. The company will indirectly hold 30% shares of the proposed JV company through Morepen Medipath.
Morepen Laboratories is engaged in the manufacturing and sale of APis/ Bulk Drugs, Home Diagnostics, Formulations and OTC products.
