Pharma Stock Under Rs 50: Board Member To Meet On June 19 To Consider Fund Raise; Check Share Price

The Board of Directors of Sudarshan Pharma Industries Limited (SPIL) has scheduled a meeting for Thursday, June 19, 2025. Subject to obtaining the required approvals, the board will examine a proposal to raise money by issuing equity shares or equity-linked instruments like warrants or convertible securities.

Significantly, the Directorate General of Foreign Trade has also designated SPIL as a One Star Export House. From May 8, 2025, to March 31, 2028, this status will be in effect.

For Rs 55 lakh, the business recently purchased Cibachem General Trading L.L.C., a company based in Dubai. The transaction, which entails buying 300 shares, is anticipated to close by September 30, 2025, pending RBI approval. Since its founding in 2013, Cibachem has reported consistent earnings, with AED 4,99,250 in 2024, AED 3,51,050 in 2023, and AED 4,92,588 in 2022. The goal of this acquisition is to increase SPIL's market share in the Middle East.

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SPIL, a contract manufacturer of generic formulations, was established in 2008 and has its headquarters in Mumbai. Speciality chemicals, APIs, intermediates, and pharmaceutical generics are among the various business segments in which the company operates. Additionally, SPIL sells branded goods through its Vimac Healthcare division. 56 of its 96 products are registered under the "R" trademark.

For contract manufacturing services, SPIL works with a number of reputable Indian businesses and organisations.

Share Price Today

Despite the development ahead, the shares plunged during the intraday trade on Tuesday amid a selloff in markets due to the Iran-Israel conflict. At around 1:14 pm, the shares were trading at Rs 28.82, falling 1.97 per cent against the previous day's closing price. 

Stock Market Today

Benchmark indices Censex and Nifty declined in early Tuesday amid the ongoing conflict between Israel and Iran. The BSE Sensex of 30 shares fell to 127.02 points to 81,669.13 points. NSE Nifty of 50 shares fell by 55 points to 24,891.50 points in early trading.

Disclaimer: This is just a piece of news about recent development. Jagran does not advise investing. Please seek expert advice before investing.