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Kilitch Drugs to set up a unit in Ethiopia; stock up 14%

The scrip opened at Rs. 31.05 and has touched a high and low of Rs. 37.7 and Rs. 31.05 respectively.

October 19, 2015 11:48 IST | India Infoline News Service
Medical supplies, pills and capsules
Kilitch Drugs (India) Limited has informed the stock exchanges that it has formed a joint venture in the Republic of Ethiopia with a local party therein to set up a pharmaceutical/nutraceutical manufacturing unit whereby the company shall be a partner to the tune of 97% and the Ethiopian partner shall hold remaining 3% in the said joint venture.

The stock is currently trading at Rs. 36.4, up by 4.6 points or 14.47% from its previous closing of Rs. 31.8 on the BSE.

The scrip opened at Rs. 31.05 and has touched a high and low of Rs. 37.7 and Rs. 31.05 respectively. So far 109437(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 42.07 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 56.45 on 07-Jan-2015 and a 52 week low of Rs. 25.25 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 32.95 and Rs. 31.25 respectively.

The promoters holding in the company stood at 64.5 % while Institutions and Non-Institutions held 0 % and 35.5 % respectively.

The stock is currently trading below its 200 DMA.

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