FDC surges on buying land including factory building for Rs 115 crore

FDC is currently trading at Rs. 124.80, up by 1.55 points or 1.26% from its previous closing of Rs. 123.25 on the BSE. The scrip opened at Rs. 124.25 and has touched a high and low of Rs. 125.50 and Rs. 123.50 respectively. So far 16948 shares were traded on the counter. The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 145.00 on 02-Apr-2014 and a 52 week low of Rs. 79.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 134.05 and Rs. 123.10 respectively. The current market cap of the company is Rs. 2198.02 crore. The promoters holding in the company stood at 68.89% while Institutions and Non-Institutions held 12.22% and 18.89% respectively. FDC has purchased a land including factory building situated at C - 11 & C - 12, Dalia Industrial Estate, Andheri (West), Mumbai for a total consideration of Rs 115 crore. The company intends to use the land for its business operations. FDC pioneered the manufacture of specialized ophthalmic formulations in India. At present, its pioneer brand ‘Electral’ stands apart with a special identity- an impressive achievement in a fiercely competitive market. FDC’s API plant at Roha (Maharashtra) was among the first few API facilities in India to get US-FDA approval in 1984.