Neuland Labs jumps on new manufacturing facility - The New Indian Express

Neuland Labs jumps on new manufacturing facility

Published: 09th April 2014 12:19 PM

Last Updated: 09th April 2014 12:19 PM

Neuland Laboratories, a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), jumps on Wednesday after it opened a new manufacturing facility constructed as part of its collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group.

The new facility, which is located in a Neuland complex in Pashamylaram, Hyderabad, is the first manufacturing facility that APIC has established outside of Japan.Shares ofthe companyare trading at Rs 263.50, up Rs 9.45, or 3.72% at the Bombay Stock Exchange (BSE) on Wednesday at 11:31 a.m.The scrip has touched an intra-day high of Rs 265 and low of Rs 262. The total volume of shares traded at the BSE is 82.In the earlier session, the shares declined 0.08%, or Rs 0.19, at Rs 254.05. Currently, the stock is trading down 28.86% from its 52-week high of Rs 370.40 and above 197.74% over the 52-week low of Rs 88.50.

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