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Last Updated : Oct 19, 2015 12:05 PM IST | Source: Moneycontrol.com

Kilitch Drugs jumps 19%, to set up pharma unit in Ethiopia

"Kilitch has formed a joint venture in the Republic of Ethiopia with a local party therein to set up a pharmaceutical/nutraceutical manufacturing unit," the company said in its filing.

 
 
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Moneycontrol Bureau


Shares of Kilitch Drugs India rallied 18.6 percent intraday Friday on joint venture to set up a manufacturing unit in Ethiopia.


"Kilitch has formed a joint venture in the Republic of Ethiopia with a local party therein to set up a pharmaceutical/nutraceutical manufacturing unit," the company said in its filing.

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In the said joint venture, the company will be a partner with 97 percent stake and Ethiopian partner will hold remaining 3 percent.


At 11:58 hours IST, the scrip of Kilitch Drugs (India) was quoting at Rs 36.90, up Rs 5.10, or 16.04 percent on the BSE.

Posted by Sunil Shankar Matkar



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First Published on Oct 19, 2015 12:05 pm
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