Alkem Laboratories Ltd on Thursday announced almost doubling of investment to up to Rs 1,036 crore for its proposed greenfield formulations manufacturing facility in Ujjain, Madhya Pradesh. The board of the directors of the company on April 2 has approved an increase in investment from up to Rs 533 crore to up to Rs 1,036 crore to be made in a phased manner for setting up of manufacturing facility in Ujjain, Alkem Laboratories Ltd said in a regulatory filing. Earlier on March 18, the company had stated that it has received allotment letter from DMIC Vikram Udyogpuri Ltd, for allotment of 30 acres land for setting up of the greenfield formulations manufacturing facility at Ujjain and the company's board had approved an investment of up to Rs 533 crore to be made in a phased manner.
Companies including Dr. Reddy's Laboratories, Sun Pharma, Zydus Lifesciences, Natco Pharma, Alkem Laboratories, and Torrent Pharmaceuticals have developed their own formulations
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Alkem Laboratories' devices arm to acquire controlling stake in Swiss cardiac implant maker, marking entry into global structural heart segment
Nomura expects Indian markets to trade in the range of 20-22x one-year forward earnings, assuming risk premia remain low.
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India sales grew 14% Y-o-Y to ₹2,766 crore in the September quarter, while international sales rose 29.5% to ₹1,189 crore, contributing 31.7% to overall revenue
The Nifty MidCap index can surge near 25,000-mark; whereas, midcap stocks such as AIA Engineering, Alkem Labs, Muthoot Finance, ICICI Prudential Life and UPL can rally another 22%, suggest tech charts
Nomura has maintained its Nifty target for March 2026 at 26,140, implying a modest upside of 4 per cent from current levels, based on a FY27F earnings per share (EPS) estimate of ₹1,245.