Aarti Drugs is locked in upper circuit of 5% at Rs 144, bouncing back 11% from intra-day’s low, after the company said that the affected manufacturing units in Tarapur contribute about 13% of the total turnover of the company on an annualised basis and assets of the affected plant are adequately insured.
“The company has taken efforts to procure the affected intermediate from outside and the supplies would be restored within a month approximately. Timeframe to rebuild the affected intermediate plant is being worked out,” Aarti Drugs said in a statement.
This plant was manufacturing MNI, an intermediate which was further processed to manufacture two APIs. These two APIs contribute about 13% of the total turnover of the company on an annualised basis, it added.
The stock has tanked 28% in past five trading sessions after the pharmaceutical company said an accident has occurred at the company’s factory unit situated at Tarapur, Thane on March 22, 2013.
The stock opened at Rs 130 on NSE and has seen a combined 134,309 shares changing hands on the counter so far. There are pending buy orders for 17,598 shares on NSE and BSE at 1426 hours.
“The company has taken efforts to procure the affected intermediate from outside and the supplies would be restored within a month approximately. Timeframe to rebuild the affected intermediate plant is being worked out,” Aarti Drugs said in a statement.
This plant was manufacturing MNI, an intermediate which was further processed to manufacture two APIs. These two APIs contribute about 13% of the total turnover of the company on an annualised basis, it added.
The stock has tanked 28% in past five trading sessions after the pharmaceutical company said an accident has occurred at the company’s factory unit situated at Tarapur, Thane on March 22, 2013.
The stock opened at Rs 130 on NSE and has seen a combined 134,309 shares changing hands on the counter so far. There are pending buy orders for 17,598 shares on NSE and BSE at 1426 hours.
