India's Caplin Point Laboratories hits record high on pact with Tamil Nadu govt

Caplin Point Laboratories

09/01/2024 05:03

** Shares of pharma co Caplin Point Laboratories  CAPL.NS 
rise as much as 5.8% to 1,470 rupees, hitting a record high;
last up 2%
    ** Caplin group signs memorandum of understanding with Tamil
Nadu government for investment of 7 billion rupees ($84.24
million) in various projects for 5 years
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since Nov
    ** More than 240,000 shares change hands, 1.8x the 30-day
avg 
    ** Stock gained about 90% in 2023, best year since 2015



($1 = 83.0950 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))