Companies

Aurobindo Pharma hits 52-week high on approval under PLI

Our Bureau Mumbai | Updated on January 25, 2021

The company, through its subsidiaries including LyfiusPharma Pvt Ltd and Qule Pharma Pvt Ltd, received approval for three projects

The shares of Aurobindo Pharma gained nearly 8 per cent on Monday, reaching a new 52-week high after the company received approval under the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical bulk drugs.

At 12:51 pm, Aurobindo Pharma was trading at ₹1005.45 on the BSE, up ₹81.80 or 8.86 per cent. It hit a 52-week high of ₹1,011.90. It opened at ₹930 as against the previous close of ₹923.65.

On the NSE, it was trading at 1,005.10, up ₹81.30 or 8.80 per cent. It hit a 52-week high of ₹1,012.00.

ALSO READ First set of five bulk drug, pharma input projects under PLI scheme cleared

The government last week approved the first set of five pharma projects under the Production Linked Incentive (PLI) scheme for promoting domestic manufacture of bulk drugs and active pharmaceutical ingredients (APIs). These projects are worth a total committed investment of ₹3,761 crore.

ALSO READ Aurobindo, COVAXX ink deal to develop, commercialise Covid-19 vaccine for India, UNICEF

Aurobindo Pharma, through its subsidiaries including LyfiusPharma Pvt Ltd and Qule Pharma Pvt Ltd, received approval for three projects. The company, through its subsidiaries will launch projects for producing 15,000 tonne per annum (TPA) of Penicillin G, 2,000 tpa of 7-ACA and 1,600 tpa of erythromycin thiocyanate.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 25, 2021
This article is closed for comments.
Please Email the Editor