NATCO Pharma Limited to form subsidiary in Indonesia

The Board of Directors of NATCO Pharma Limited have approved to incorporate a Subsidiary Company in Indonesia with an investment up to an amount not exceeding US$ 3 Million (Three Million United States Dollars only), of which, initially the Company will invest US$ 1 Million (One Million United States Dollars only) for a stake of 51% (Fifty One Percent) as capital contribution and balance will be invested by the Company as and when the funds are required by the subsidiary Company. The balance stake of 49% (Forty Nine Percent) will be held by PT. Mitra Medis Exim (MME), that belongs to Mitra Jaya Group which is a 40 year old multi-diversified group, as the co-promoter of the proposed subsidiary Company. MME is in the business of distribution for active pharmaceutical ingredients and excipients for the end users in Indonesia.

Shares of Natco Pharma Limited was last trading in BSE at Rs. 558.45 as compared to the previous close of Rs. 565.35. The total number of shares traded during the day was 5231 in over 629 trades.

The stock hit an intraday high of Rs. 571.00 and intraday low of 556.00. The net turnover during the day was Rs. 2945170.00.

Source : Equity Bulls

Keywords

NatcoPharma INE987B01026 Subsidiary Indonesia