52-week high alert & FIIs increase stake: This multibagger company signs MoU worth Rs 700 crore with Tamil Nadu Government – know more here!
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 575 per share and a whopping 5,280 per cent in a decade.
Caplin Group of Companies is pleased to announce 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 Rs 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).
Today, shares of Caplin Point Laboratories Ltd plunged 1.01 per cent to Rs 1,431.35 per share with an intraday high of Rs 1,481.85 and an intraday low of Rs 1,409.95. The stock made a fresh 52-week high of Rs 1,481.85 per share today.
Caplin Point Laboratories Ltd is engaged in the manufacturing and sourcing of APIs, finished formulations, R&D and clinical research with a presence in Latin America, Africa, USA and other nations. The company has a market cap of over Rs 10,000 crore and has delivered good profit growth of 21.2 per cent CAGR over the last 5 years. As of September 2023, FIIs have increased thier stake to 3.09 per cent.
The shares of the company have an ROE of 26 per cent and an ROCE of 26 per cent. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 575 per share and a whopping 5,280 per cent in a decade. Investors should keep an eye on this Mid-Cap pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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