ZIM Laboratories gains on getting nod to invest in SIA ZIM Laboratories
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ZIM Laboratories is currently trading at Rs. 114.30, up by 0.40 points or 0.35% from its previous closing of Rs. 113.90 on the BSE.
The scrip opened at Rs. 110.50 and has touched a high and low of Rs. 114.30 and Rs. 106.70 respectively. So far 25493 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.75 on 04-Aug-2023 and a 52 week low of Rs. 89.90 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 117.65 and Rs. 106.70 respectively. The current market cap of the company is Rs. 535.98 crore.
The promoters holding in the company stood at 33.26%, while Non-Institutions held 66.73% in the company.
ZIM Laboratories has received approval for Investment of upto Euro 1,53,000 in the equity shares of SIA ZIM Laboratories, wholly owned subsidiary of the company. The investment in equity shares of SIA ZIM Laboratories is with an objective of expansion and development of business in the European region.
The company has also received approval for incorporation of a subsidiary of ZIM Laboratories FZE, Sharjah (Wholly owned subsidiary of the Company). Post investment, the newly incorporated subsidiary would be a step-down subsidiary of the Company. The incorporation of step down subsidiary is with an objective of expansion and development of business in the MENA region. The Board of Directors of the company in their meeting held on August 3, 2024, has approved the same.
ZIM Laboratories manufactures, formulates, and distributes drug delivery systems to develop generic pharmaceutical products.
