Shares of this mid-cap pharma company jumped on entering into a strategic partnership with Greenko ZeroC

The company and its subsidiaries are primarily engaged in manufacturing APIs and Pharmaceuticals Formulation Intermediates.

The previous day’s close of the shares was at Rs 320.35. On Tuesday, the shares opened at Rs 322.70 and made the day high at Rs 329.35 a piece.

To establish a leadership position in sustainability and circular economy initiatives and be a pioneer in the sector, Granules India and Greenko ZeroC have entered into a strategic partnership to work together for Green Molecule Solutions and its wider applications in the pharmaceutical industry.

The first collaboration between Granules and Greenko ZeroC will be in Kakinada, Andhra Pradesh, where state-of-the-art Integrated Green Pharmaceutical Zones (GPZ) will be developed and promoted. For the large-scale production of key starting materials (KSM), intermediates, active pharmaceutical ingredients (APIs), and products based on fermentation, Granules will construct a green field plant based on sustainability principles. A phased approach will be taken to commission the 100-acre complex. The project will probably cost over Rs 2,000 crore over five years.

Granules India Limited is an Indian mid-cap pharmaceuticals company which is primarily engaged in the manufacturing and selling of Active Pharma Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages.

Exports contribute around 60 % of its revenue. Its customer includes some of the leading generic as well as branded pharmaceutical companies. It has emerged into a knowledge-driven, R&D-focused, multi-products organisation with inherent strength in efficient manufacturing of high-volume pharmaceuticals products.

The 52-week high of the stock is Rs 381.25 whereas the 52-week low was Rs 227.00. Promoters of the company are holding a 42.02% stake in the company whereas the Institutional and Non-Institutional holdings are 26.88 % and 31.10 % stake, respectively.