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Everest Organics Ltd. – Highlights
- Everest Organics Ltd. hit a 19.99% upper circuit limit of Rs.399.50, on the BSE in today’s session.
- The stock is up by 315.28% in last one year as compared to a 65.09% surge in S&P Bse Sensex in the same period.
- The stock hit a fresh 52-week high of Rs.399.50 today.
- This move was after the company announced the successful development of Posaconazole API (Active Pharmaceutical Ingredient), which is used to treat Black Fungus.
- The company is in the advanced stage of commercializing Posaconazole, which is a triazole antifungal agent used for treating mucormycosis, popularly known as Black Fungus, as part of post-Covid complications.
- According to the company’s management, Everest has recently launched and commercialised ‘Oseltamivir’ and ‘Remdesivir,’ both of which are used to treat Covid-19. The management is more confident and ready to develop more such niche products in the quickest span of time.
- Everest Organics manufactures bulk drugs such as Omeprazole, Ciprofloxacin, Dichloroflurobenzene, Benzimadizole, and others, with its factory located in the Sadasivpet Medak District of Hyderabad. The construction activities began in 1994, and the commercial production of the company began in 1996. The company is one of the largest manufacturers and exporters of active pharmaceutical ingredients and their intermediates in India.
- The company’s facilities are GMP-compliant and are certified by the Drug Control Authority of the Government of Andhra Pradesh, India. It supplies products to major multinational corporations around the world, as well as well-known formulation firms in India, Europe, the United States, and the Far East, and the Middle East, as well as Latin / Central / South American countries. The company also provides adequate technical and documentation support for their products, and their products comply with various pharmacopial standards such as BP, USP, EP, and IP Standards as requested by the customer.
- Everest Organics has a low equity base of 80 lakh shares, with the promoters owning 74.15% and public shareholders owning the remaining 25.85% with a market capitalization of Rs.266.36 crore.
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