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01-Aug2016

Indoco Remedies surges on the bourses

 Indoco Remedies is currently trading at Rs. 311.80, up by 3.35 points or 1.09% from its previous closing of Rs. 308.45 on the BSE.

The scrip opened at Rs. 309.90 and has touched a high and low of Rs. 314.00 and Rs. 306.00 respectively. So far 3011 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 363.00 on 18-Aug-2015 and a 52 week low of Rs. 244.00 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 338.95 and Rs. 297.85 respectively. The current market cap of the company is Rs. 2888.91 crore.

The promoters holding in the company stood at 59.24%, while Institutions and Non-Institutions held 20.71% and 20.05% respectively.

Indoco Remedies has received the approval from United States Food & Drug Administration (USFDA) to manufacture and market Allopurinol 100 mg & 300 mg tablets. Allopurinol is indicated for treatment of Gout. The market size of this product in the US is $169 million.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India. Indoco, a $ 149 million Company, employs over 5500 people including 300 skilled scientists. The Company has 8 manufacturing facilities, 5 of which are for FDFs and 3 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility

 

 


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