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Small-cap stock Bajaj Healthcare surges over 18%

29 February 20243 mins read by Angel One
Company signs CDMO agreement with esteemed UK/EU-based customers for the supply of 15 Active Pharmaceutical Ingredients (APIs).
Small-cap stock Bajaj Healthcare surges over 18%
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About the Partnership

Bajaj Healthcare Limited (BHL) which is an Indian Pharmaceutical company manufacturer of APIs, Intermediates and Formulations today reported that it has entered into a definitive Contract development and manufacturing organizations (CDMO) agreement with esteemed UK/EU-based customers for the supply of 15 Active Pharmaceutical Ingredient (APIs).

Under this agreement, BHL will undertake the development and supply of these molecules, which will be exclusively manufactured for its clientele. These APIs encompass a diverse range of compounds, including off-patent generics and molecules soon to be off-patent. The CDMO agreement will be executed through its in-house R&D and manufacturing capacities at Savli Vadodara, Gujarat.

Commenting on the above business update, the company’s Joint MD Anil Jain said that this strategic collaboration which underscores Bajaj Healthcare’s commitment to innovation, excellence, and meeting the evolving needs of the pharmaceutical industry. The company is poised to enhance the accessibility and affordability of essential medications for patients across the globe.

Stock Performance

In the last trading session, the stock closed at Rs 320.40. Today, it opened at Rs 326 and as soon as the news was reported the stock started to surge and hit a day high of Rs 378.05. Currently, the scrip is trading at Rs 366.50, up by 14.39%. The shares of the company have a 52-week high of Rs 511, while its 52-week low stands at Rs 245.05. Currently, the company boasts a market capitalisation of approximately Rs 1,000 crore.

About the company

Bajaj Healthcare Limited is a leading Manufacturer of APIs, Intermediates and Formulations established in the year 1993. It specialises in the manufacturing of intermediates, API, formulations & Nutraceuticals. The company has state-of-the-art manufacturing facilities for APIs, intermediates, and formulations. These facilities are designed to meet the requirements of both advanced as well as emerging market opportunities. BHL has a strong presence globally in countries like Europe, the USA, Australia, Middle East and South America.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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