Shares of this Ashish Kacholia stock jumped approximately 9 percent after the company set up an oral suspension plant of cancer medicines. In the past month, the company’s stock has gained more than 20 percent for its shareholders.
With a market capitalization of Rs 1,230.56 crores, the stocks of Beta Drugs Limited opened their trading hour on Thursday at Rs 1,199 and currently trade a Rs 1,280.
The company’s scrip witnessed an intra-day high, also marked as the new 52-week high price, of Rs 1,296.90, indicating a jump of around 9 percent as compared to the previous closing levels of Rs 1,189 apiece.
Such bullish movements in the company’s stock prices were observed after it published a filing with the BSE intimating the setting up of a “State-of-the-art” oral suspension plant of cancer medicines. The plant is meant to be for manufacturing suspensions and dry syrups of existing cytotoxic drugs.
The strategic expansion supports the company’s commitment to advancing cancer treatment options and escalating the standards within the industry. Moreover, it will boast world-class infrastructure adhering to the highest global regulatory standards, equipped with cutting-edge technology.
Mr. Ashish Kacholia, one of the renowned ace investors in India, has invested in the company’s stocks. He took an entry into the stock in March 2019 and currently, as per the shareholding data available as of September 2023, he holds around 12 lakh equity shares equivalent to a 12.52 percent stake.
Having a look at the consolidated financials of the company, the prime business indicators such as operating revenues and after-tax profits with the former increasing from Rs 183 crores during FY21-22 to Rs 227 crores during FY22-23, and, the latter, keeping the timeframe the same, moved up from Rs 24 crores to Rs 30 crores.
Beta Drugs Limited is a pharmaceutical company based in India that manufactures and sells ‘oncology’ products in the form of capsules, tablets, injections, and oral formulations. The company offers its wide range of products within India and also exports them to other countries.
Written by Amit Madnani
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