Caplin Group announces Strategic Investment of INR 700 Crores in Tamil Nadu

Caplin Group of Companies has announced the signing of a Memorandum of Understanding (MoU) with the Tamil Nadu Government during the Tamil Nadu Global Investors Meet, 2024. This MoU outlines Caplin Group's commitment to invest INR 700 Crores over a period of 5 years in diverse projects. This investment will be made by Caplin Point Laboratories Limited and its subsidiaries - Caplin Steriles Limited and Caplin One Labs Limited.

The MoU specifies that the government will provide necessary infrastructure and regulatory assistance as per applicable laws. This will also enable the availing of standard incentives, subject to eligibility. The investments, spanning Oncology, Active Pharmaceutical Ingredients and R&D facilities, are projected to generate 1,500 employment opportunities (1,000 direct and 500 indirect).

Commenting on the achievement, Mr. C.C. Paarthipan, Chairman said: "We are pleased to announce the signing of an MoU with the Government of Tamil Nadu. Aligned with the state's goals, our company's strategic investment emphasizes expanding manufacturing capabilities and driving research and development. This proactive approach not only empowers economic growth but also highlights our strong commitment to positive societal impact and social development. We appreciate the government's crucial role in ensuring the success of these key projects."

Shares of Caplin Point Laboratories Limited was last trading in BSE at Rs. 1391.15 as compared to the previous close of Rs. 1400.40. The total number of shares traded during the day was 16044 in over 1439 trades.

The stock hit an intraday high of Rs. 1426.05 and intraday low of 1382.00. The net turnover during the day was Rs. 22492413.00.

Source : Equity Bulls

Keywords

CaplinPointLaboratories INE475E01026 MoU TamilNaduGovernment TamilNaduGlobalInvestorsMeet2024