Kabra Drugs Ltd receives LOI from Chattisgarh Government for Rs. 200 crore investment

Kabra Drugs Ltd has received a Letter of Intent (LOI) from the Government of Chhattisgarh in connection with the proposed establishment of a pharmaceutical manufacturing facility at Nava Raipur Pharma Park, Chhattisgarh.

The Connect was at Hyderabad Investors Connect on Friday 12 July, in Hyderabad.

The proposed project envisages an investment of approximately ₹200 Crore and is expected to strengthen the Company's manufacturing capabilities and support its long-term growth strategy. The project is expected to generate approximately 250 direct and indirect employment opportunities.

The proposed investment shall be undertaken subject to execution of definitive agreements, receipt of applicable approvals, sanctions, incentives and compliance as may be required from time to time.

Shares of KABRA DRUGS LTD. was last trading in BSE at Rs. 23.63 as compared to the previous close of Rs. 21.43. The total number of shares traded during the day was 63463 in over 190 trades.

The stock hit an intraday high of Rs. 25.02 and intraday low of 21.75. The net turnover during the day was Rs. 1507225.00.

Source : Equity Bulls

Keywords

KABRADRUGS INE323K01017 Pharmaceuticals LOI