Granules India, a provider pharmaceutical products and services, witnessed a rise in share price on Tuesday after the company is reportedly planning to invest USD 84 million in setting up new capacities, expanding existing ones and investing in R&D to improve its product mix in favour of higher value-added products.
The project cost is proposed to be financed with debt of USD 68.5 million, including a corporate loan of up to USD 47.5 million from International Finance Corporation (IFC), and the rest through equity and internal accruals.
Shares of Granules India are trading at Rs 129.95, up Rs 4.6, or 3.67% at the Bombay Stock Exchange (BSE) on Tuesday at 10:48 a.m.
The scrip has touched an intra-day high of Rs 132.40 and low of Rs 126.25. The total volume of shares traded at the BSE is 275,401.
Total volume of shares traded on the bourses today was higher by 32.82% to 2,930,328 compared with 22-day average volume of 2,206,285.