Granules India rose 1.12% to Rs 113.35 at 15:15 IST on BSE after the company's shareholders approved raising investment limit of foreign portfolio investors in the firm.
The announcement was made during market hours today, 29 September 2017.Meanwhile, the S&P BSE Sensex was down 7.49 points, or 0.02% to 31,274.99.
On the BSE, 1.92 lakh shares were traded in the counter so far, compared with average daily volumes of 1.99 lakh shares in the past one quarter. The stock had hit a high of Rs 116.25 and a low of Rs 112.80 so far during the day.
Granules India said its shareholders at the annual general meeting (AGM) approved the proposal to increase investment limits of foreign institutional investors and foreign portfolio investors in the company's shares.
On a consolidated basis, net profit of Granules India declined 5.54% to Rs 36.80 crore on 10.18% rise in net sales to Rs 378.73 crore in Q1 June 2017 over Q1 June 2016.
Granules India is a vertically integrated pharmaceutical company, headquartered in Hyderabad, India. It manufactures active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs), distributed to customers in both regulated and semi-regulated markets.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
