Small-cap stock under ₹100: Sigachi Industries shares rise after THIS Capex update
Small-cap stock under ₹ 100: Sigachi Industries share price rose nearly 2 per cent in Wednesday's trading session after the company announced the opening of new R&D Center in Hyderabad.
The small-cap stock opened at ₹ 54.90 apiece on Wednesday, as compared to previous close of ₹ 54.72. At 9:35 am, Sigachi Industries shares climbed to ₹ 55.62, however, the stock gave up the gains, touching an intraday low to ₹ 54.52.
Pharma company said on June 18 that the company has officially opened its new R&D Center in Hyderabad—an advanced facility designed to accelerate the development of critical APIs and enhance in-house analytical capabilities.
The facility is poised to play a key role in advancing Sigachi's innovation roadmap and enhancing its responsiveness to global regulatory demands, the company said in a release.
'This R&D Center is a strategic asset that will significantly strengthen our development capabilities and enable us to respond swiftly to market needs, it reflects our focus on building operational depth and creating long-term value for our customers, partners, and stakeholders in an evolving global pharmaceutical environment," said Amit Raj Sinha, Managing Director and CEO of Sigachi Industries.
In a press release, the company said -
The Hyderabad R&D Center is designed to: Strengthen API development and regulatory alignment by integrating advanced systems for seamless synthesis, analytics, and global filings, fuel pipeline growth through targeted investment of up to USD 1 million to support priority APIs and complex intermediates, focus resources effectively by aligning the pharma product portfolio to strategic therapeutic segments, and empower a high-impact research team to lead development efforts for global markets.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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