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Last Updated : Sep 26, 2016 03:33 PM IST | Source: Moneycontrol.com

Kilitch Drugs up 20% after Ethiopia allots land for pharma unit

Kilitch Drugs (India) shares were locked at 20 percent upper circuit at Rs 40.60 on Monday after Ethiopia government allotted land to its subsidiary for setting up pharma unit.

 
 
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Kilitch Drugs (India) shares were locked at 20 percent upper circuit at Rs 40.60 on Monday after Ethiopia government allotted land to its subsidiary for setting up pharma unit.


"...announces allotment of land admeasuring 4317.5 square meters located in Oromia special zone by the Bureau of Rural Land and Environmental Protection, Federal Democratic Republic of Ethiopia to Kilitch Estro Biotech Plc," the Maharashtra-based healthcare company in its filing.

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The government has allotted land on a lease for a period of 45 years.

"This will also help to strengthen the presence of Kilitch in East Africa as Ethiopia is the third most populous nation in African continent after Nigeria and Egypt," the company said.


At 15:16 hours IST, there were pending buy orders of 44,939 shares, with no sellers available on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar



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First Published on Sep 26, 2016 03:28 pm
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