Company Profile

Healthcare Services industry stocks were trading higher after the government approved Rs 13,760 crore package to boost production of bulk drugs, medical devices.

Ipca Laboratories is currently trading at Rs 1407.95, up by 36.10 points or 2.63% from its previous closing of Rs. 1371.85 on the BSE. The scrip opened at Rs. 1485.00 and has touched a high and low of Rs. 1615.70 and Rs. 1269.90 respectively. So far 38757 shares were traded on the counter.

Thyrocare Technologies is currently trading at Rs 530.00, up by 24.25 points or 4.79% from its previous closing of Rs 505.75 on the BSE. The scrip opened at Rs 519.90 and has touched a high and low of Rs. 574.00 and Rs 490.00 respectively. So far 25277 shares were traded on the counter.

Minister of State for Chemicals and Fertilisers Mansukh Mandaviya has said that the government has approved four schemes with an incentive outlay of Rs 9,940 crore and Rs 3,820 crore for bulk drugs and medical devices respectively, to boost their domestic production in the country and exports. He said the Cabinet also approved a sum of Rs 3,000 crore for the next five years for the scheme on promotion of bulk drug parks for financing common infrastructure facilities in three bulk drug parks.

Mandaviya also stated that a sum of Rs 6,940 crore has been approved for the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical KSMs/Drug Intermediates and APIs in the country. He said the PLI scheme will lead to expected incremental sales of Rs 46,400 crore and significant additional employment generation over eight years. He added that the scheme for promotion of medical device parks seeks to promote medical device parks in the country in partnership with the states.

The minister further said that a maximum grant-in-aid of Rs 100 crore per park will be provided to the states. It will have financial implications of Rs 400 crore. He noted that the PLI scheme for promoting domestic manufacturing of medical devices with financial implications of Rs 3,420 crore and the expenditure to be incurred for the schemes on promotion of medical devices will be for the next five years.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Ipca Laboratories has informed that the Company is organizing a group meeting of Analysts/ Institutional Investors with the Company's management on 28th February, 2020 at its Mumbai office. In this meeting, only publicly available information will be shared with the Analysts/ institutional investors.

The above information is a part of company’s filings submitted to BSE.