Mangalam Drugs and Organics Limited commissions new intermediate manufacturing facility at Unit 1, Vapi

Mangalam Drugs and Organics Limited ("the Company") is engaged in the business of manufacturing of various Active Pharmaceutical Ingredients (APIs).

The Company has announced the commissioning of new intermediate manufacturing facility at Unit 1 located in Vapi, Gujarat. This intermediate is an import substitute and an important raw material, which the Company was importing from China.

Mangalam is the first Company in the organized sector to manufacture this in-house. This will enable the company to reduce its reliability on Chinese imports for this product and help to maintain uninterrupted supply chain to a great extent.

This being a multi-product manufacturing facility, it will also support production of a few more intermediates that are presently being imported from China, thus making us self-sufficient to a great extent.

Shares of MANGALAM DRUGS & ORGANICS LTD. was last trading in BSE at Rs.149.7 as compared to the previous close of Rs. 140.75. The total number of shares traded during the day was 55748 in over 1766 trades.

The stock hit an intraday high of Rs. 149.7 and intraday low of 133.1. The net turnover during the day was Rs. 7914172.

Source : Equity Bulls

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