Shares of Bajaj Healthcare rose over 5% and are on course to extend winning streak for sixth day. The stock has gained 29% over the period.
- Bajaj Healthcare enters the opiate processing business.
- Bajaj Healthcare has entered the highly-regulated opiate processing business, becoming the first private player in India to do so.
- The firm has won two contracts – to manufacture alkaloids and APIs from 500 MT of unlanced poppy capsule along with straw and 100 MT of opium gum on an annual basis.
- Both tenders to be executed at the API manufacturing unit located at Savli, Gujarat.
- Trading volume is 31 times the 30-day average volume. The relative strength index of the stock is 76, suggesting it may be overbought.
Source: Exchange filing, Bloomberg
