Bajaj Healthcare shines on foraying into highly regulated- Opiate Processing Business for GOI

Bajaj Healthcare is currently trading at Rs. 358.00, up by 17.05 points or 5.00% from its previous closing of Rs. 340.95 on the BSE.

Bajaj Healthcare
Bajaj Healthcare

The scrip opened at Rs. 345.00 and has touched a high and low of Rs. 365.00 and Rs. 345.00 respectively. So far 5015 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 499.00 on 13-Jul-2021 and a 52 week low of Rs. 256.80 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 365.00 and Rs. 278.75 respectively. The current market cap of the company is Rs. 940.97 crore.

The promoters holding in the company stood at 67.26%, while Institutions and Non-Institutions held 0.38% and 32.36% respectively.

Bajaj Healthcare (BHL) has been awarded two tenders for manufacture of Concentrated Poppy Straw (CPS) and Alkaloids/Active Pharmaceutical Ingredients (APIs) from unlanced poppy capsules along with straw through CPS-Reg and Opium Gum from the Government of India (GOI), Department of Revenue, Office of Chief Controller, Govt. Opium & Alkaloid Factories, GOI.

The company plans to execute both these tenders at their API manufacturing unit located at Savli, Gujarat, India. The APIs will be manufactured under highly regulated conditions & under strict adherence to protocols prescribed by the Government of India.

The unit is well placed to caterto all mandated quality checks and controls, with capacity enhancement capabilities. The tender is expected to bring an overall margin accretion to the company mainly on account of better capacity utilization of the existing plant.

The derivate API’s and extracts are normally used in a wide range of pharmaceutical applications.

Bajaj Healthcare mainly focuses on development, manufacturing and supply of Amino Acids, Nutritional Supplements and Active Pharmaceutical Ingredients (API) for Pharmaceutical, Nutraceuticals and Food industries.

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