Coral Laboratories Stock Rises 0.77% After ₹30 Crore Capacity Expansion Plan at Dehradun Plant

Mumbai, October 14: Coral Laboratories Limited’s share price is witnessing positive investor demand today, after the company announced that it will be making a ₹30 crore investment to double its production capacity at the Dehradun manufacturing facility. As of 12:50 PM, the shares were up by 0.77%, or 3.95 points, and were trading at ₹520. Until now, the shares have traded within a range of ₹543.40 and ₹512. The traded volume stood at 1.08 thousand shares, with the company’s market cap at ₹184 crore. The shares have their 52-week high at ₹961 and 52-week low at ₹442.55.

Coral Laboratories Limited is an Indian company that is engaged in the manufacturing and marketing of pharmaceuticals. The company was established in 1997 and is headquartered in Mumbai, Maharashtra. The shares of the company are listed on the BSE with the code 524506.

₹30 Crore Capacity Expansion Plan at Dehradun Plant

The rise in the share price comes after the company announced that it will be making a ₹30 crore investment to double its production capacity at the Dehradun manufacturing facility. The expansion will be aimed at enhancing its ointment manufacturing capacity from 1.8 lakh kg to 3.6 lakh kg within the next six months. The company’s board approved the expansion plan at its meeting held yesterday. It also announced that the expansion project will be funded through a mix of bank overdraft and internal accruals, demonstrating the company’s prudent capital management approach. Through the expansion, the company aims to meet the rising demand in domestic and international markets and support growth. The company has set an execution timeline of 6 months for the expansion project.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/08a93709-60ac-4d2a-9752-3741f4e462ca.pdf

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