Syschem India share price gains 9% on capacity expansion plan
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The total fund required towards completion of the projects shall be around Rs 10 to 12 crore.
The share touched a 52-week high of Rs 65.10 and a 52-week low of Rs 20.40 on 23 January, 2023 and 23 June, 2022, respectively.
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Syschem India share price gained nearly 9 percent in early trade on June 21 as the company plans to expand its existing facilities.
The board of directors of Syschem India has approved the plan for expansion of the existing facilities for manufacturing of amoxicillin and cephalexin at Bargodam in Panchkula, Haryanaby, setting up a parallel production line.
The installed capacity of the unit will be increased from 720 TPA to 1380 TPA approximately in order to cater the demand of the market.
The total fund required towards completion of the projects shall be around Rs 10 to 12 crore.
The company has also decided to start the foundation laying work of the new Pharma Block on June 22, 2023.
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At 9:55am, Syschem India was quoting at Rs 40.52, up Rs 1.78, or 4.59 percent on the BSE.
The share touched a 52-week high of Rs 65.10 and a 52-week low of Rs 20.40 on 23 January, 2023 and 23 June, 2022, respectively. It is trading 37.76 percent below its 52-week high and 98.63 percent above its 52-week low.
