Bajaj HealthCare Shares: Investors rushed for Bajaj Healthcare Ltd’s (NSE: BAJAJHCARE) share amid a sell-off environment. In the wake of this, the share rose by over 5 % to the highest level in history.
This buying trend was seen due to the approval of Bajaj Healthcare Ltd’s API (Active Pharma Ingredient) manufacturing site located in Savli, Vadodara, Gujarat, by the Australian institution.
In intra-day, it had reached Rs 456.35 with a jump of 5 percent.
Bajaj Healthcare Shares Jumped On Which Approval?
Bajaj Healthcare Ltd disclosed in an exchange filing on December 6 that its API manufacturing site in Savli has received approval from Australia’s Therapeutic Goods Administration (TGA).
It had already received approval from the US drug regulator FDA and the European Union’s regulatory body. After getting approval from the Australian regulator, it will now be able to supply APIs in Australia and New Zealand.
The company says that after this approval, Bajaj Healthcare Ltd expects to get more Contract Development and Manufacturing Organizations (CDMO) contracts from existing and new customers.
How Was The Movement Of Share In One Year?
Bajaj Healthcare Ltd’s share has made great earnings for investors. On June 4, 2024, it was at Rs 263.30, which is a one-year low for its shares.
From this low level, it jumped 51.57% in just 6 months to reach a price of Rs 456.35 on 9th December 2024, which is a one-year record high for its shares. So far this month, the shares of Bajaj Group’s healthcare company have climbed more than 14.16 %.
Quick Fact
| Company name | Bajaj Healthcare |
|---|---|
| Share rise reason | API site approval by Australian TGA |
| Approved site | API manufacturing site, Savli, Gujarat |
| Approved for | Australia, New Zealand |
| Other approvals | US FDA, European Union |
| Stock price | ₹450 |
| Share price (1:10 pm) | ₹452.95 |
| Intra-day high | ₹456.35 |
| 6-month gain | 51.57% |
| 1-year low | ₹263.30 |
| 1-year high | ₹456.35 |
| December gain | More than 14.16% |
| Future benefit | Possible more CDMO contracts |
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