Granules India to infuse Rs 220 crore to push the expansion of its US-based subsidiary

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Granules India Limited the Hyderabad-based company is going to expand its operations of its wholly owned US-based subsidiary Granules Pharmaceuticals Inc. The pharma giant will be investing $35 million (Rs 220 crore) on the expansion. 

With the additional funding, the manufacturing capacities and pharmaceutical R&D of the subsidiary company will be boosted. Currently, in the Chantilly area of Fairfax Country, Virginia has a 100,000-sq foot facility.

The company intends to manufacture products in the location as well and currently conducts research and development to make products. In 2014 with an investment of $15 million the company along with 75 employees had entered in the US markets to establish the subsidiary.

More than 400 foreign firms have set up their units in the area, which is a hub for the life science industry.

Stock view :-

Granules India Ltd is currently trading at Rs 137.9, up by Rs 1.45 or 1.06% from its previous closing of Rs 136.45 on the BSE.

The scrip opened at Rs 137.7 and has touched a high and low of Rs 139.75 and Rs 137 respectively. So far 399311(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3120.65 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 157 on 18-May-2017 and a 52 week low of Rs 91.45 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 154.5 and Rs 132.4 respectively.

The promoters holding in the company stood at 53.45 % while Institutions and Non-Institutions held 11.54 % and 35.01 % respectively.
The stock is currently trading below its 50 DMA.

Granules India Ltd :-
BSE 138.25 1.80 (1.32%)
NSE 138.00 1.30 (0.95%)


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