On Monday, March 3, Granules India shares saw an increase of about 3%. This stock reached the Intrade High 475 rupees. The main reason for this fast is to increase the stake in the company by the Life Insurance Corporation of India (LIC).
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LIC increased stake, investors have increased confidence
Government insurance company LIC bought an additional 17.83 lakh shares between 1 January to 3 March 2024.
- LIC’s stake was 4.26% by December 2023, which has now increased.
- This step shows the growing institutional belief in the Pharma Company in Hyderabad.
- This update by Granules India came after the regulatory notice, in which the company’s site was classified as the “official action indicate” (OA) based on the inspection conducted in August 2024.
However, due to this classification, the company may delay new product approval, but the company assured investors that:
- The current manufacturing and distribution will not be affected.
- The company is working with officials to resolve regulatory issues.
Weak performance in December quarter
However, the results of the Q3 (December quarter) of Granules India were weaker than expectations.
- Net Profit-The year after year 6.4% fell to Rs 118 crore.
- Revenue – 1.5% fell to Rs 1,137.6 crore.
- Ebitda – 8% decreased to Rs 230.2 crore.
- Ebitda margin – reduced from 22% to 20.2%.
Share Performance: After the decline now, fast?
Granules India shares saw a major decline in recent months.
- From the beginning of the year so far – 21% decline
- In the last 5 days – 8% fall
- In the last 1 month – 16% fall
- In the last 6 months – 32% fall
