Vaishali Pharma climbs nearly 5 per cent on receiving supply orders worth Rs 2.02 crore
Vaishali Pharma Limited, a pharmaceutical company based in Mumbai, announced this morning that it has bagged an order worth Rs 2.02 crore from Afghanistan.
As per the deal, the company will engage in the supply of active pharmaceutical ingredients (API), packaging material like capsules, glass vials, rubber stoppers, flip-off seals, and sterile water for injection, etc. It will also provide specific machinery setups such as tablet manufacturing machines.
As per the available information, the pharmaceutical market of Afghanistan has always been dominated by imported drugs & medicines from all over the world. This is because the pharmaceutical factories in the country are unable to cater to their own healthcare requirements. Due to this, 95 per cent of Afghanistan’s pharmaceutical needs are being met by importing medicines, mainly from India and other European countries.
The company sees this as a business opportunity and seeks to exploit it. This is a remarkable feat for the company as this deal will enable it to strengthen its presence in the high growth market of South Asian countries and reach out to more markets.
At 11.57 am, the share price of Vaishali Pharma Ltd was trading at Rs 38.50 on NSE, which was an increase of 4.90 per cent over its previous day’s closing price of Rs 36.70.