ZIM Laboratories soars on getting nod to invest in equity shares of SIA ZIM Laboratories
Zim Laboratories is currently trading at Rs. 110.95, up by 1.15 points or 1.05% from its previous closing of Rs. 109.80 on the BSE.
The scrip opened at Rs. 111.10 and has touched a high and low of Rs. 111.80 and Rs. 109.95 respectively. So far 4659 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 131.30 on 24-Apr-2024 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. 112.75 and Rs. 105.00 respectively. The current market cap of the company is Rs. 541.83 crore.
The promoters holding in the company stood at 33.26%, while Non-Institutions held 66.73% stake in the company.
ZIM Laboratories has received approval from Board of Directors to invest upto Euro 1,50,000 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.
With the proposed investment, the Company’s shareholding in SIA ZIM Laboratories remains at 100%. The Board of Directors in their meeting held on September 30, 2024 have considered and inter alia approved the same.
ZIM Laboratories manufactures, formulates, and distributes drug delivery systems to develop generic pharmaceutical products.
