Alkem Laboratories advanced 2.44% to Rs 5659.45 after the company said that it has entered into an agreement to sell and transfer its manufacturing facility situated at Special Economic Zone, Pithampur, Dhar, Madhya Pradesh (MP).
The said transaction is part of the companys ongoing initiative of networking strategy and optimization of manufacturing facilities.
The sale includes all rights, title and interest in the leasehold land, factory building, assets and liabilities etc. associated with the said facility.
The business transfer agreement has been executed between the company and Rubicon Research on a slump sale basis. The company would receive a cash consideration of Rs 133.5 crore.
Rubicon Research is engaged in the business of development, manufacture, distribution and sale of pharmaceutical formulations. Rubicon does not belong to the promoter/ promoter group of Alkem Laboratories.
 "India squad announcement for ENG series")
 "ONGC")
 "Michael Barr")
 "Market, BSE, NSE, NIfty, Stock Market, investment")
 "Justin Trudeau")
Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.
The companys consolidated net profit jumped 11% to Rs 688.64 crore in Q2 FY25 as compared with Rs 620.52 crore in Q2 FY24. Net sales fell marginally 0.7% YoY to Rs 3414.67 crore in Q2 FY25.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
