Aarey Drugs & Pharmaceuticals is currently trading at Rs. 90.70, up by 0.20 points or 0.22% from its previous closing of Rs. 90.50 on the BSE.
The scrip opened at Rs. 90.00 and has touched a high and low of Rs. 91.00 and Rs. 89.50 respectively. So far 42301 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.10 on 13-Feb-2017 and a 52 week low of Rs. 25.05 on 30-Mar-2016.
Last one week high and low of the scrip stood at Rs. 92.80 and Rs. 88.00 respectively. The current market cap of the company is Rs. 159.80 crore.
The promoters holding in the company stood at 54.94%, while institutions and non-institutions held 0.12% and 44.95% respectively.
Aarey Drugs & Pharmaceuticals is eyeing to take over Forel Labs in equity swap, after the due diligence undertaken by the company and is considering the viability of the takeover. The board of directors of the company has considered the proposal received from Forel Labs, a company which has production facility at Visakhapatnam, Andhra Pradesh. The company has authorized Managing Director to appoint the agency for the due diligence of the project for both financial & technical.
Forel Labs is manufacturer of API products, which is complementary to Aarey Drugs products. Forel Labs is certified with ISO 9001:2008 & GMP and facilities are in-compliance with US-FDA & WHO norms. Aarey Drugs & Pharmaceuticals is in manufacturing of API products, & proposed to expand its product range.
Aarey Drugs & Pharmaceuticals is engaged in the manufacturing of drugs and intermediates such as metronidazole, metronidazole benzoate, methyl, and nitro imidazole. The company is based in Thane, India.