India's Neuland Labs gains on approving 3.4 bln-rupee capex

Neuland Laboratories

22/01/2025 06:02

** Neuland Laboratories  NEUL.NS  rises 4% to 13,751 rupees;
set for biggest one-day gain in more than two weeks
    ** Drug maker approves capital expenditure of 3.42 billion
rupees ($39.5 million) to increase co's peptide synthesizer
reactor capacity from 0.5 KL to 6.37 KL
    ** Stock sees busiest day in a week, with more than 33,000
shares traded
    ** NEUL surged 159% in 2024 vs a 23% gain in peer Aurobindo
Pharma  ARBN.NS 

($1 = 86.5690 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))