Drug firm Granules India on Monday said its board has approved a proposal to set up a subsidiary in Hyderabad to build a greenfield facility for formulations business.
"The Board of Directors at their meeting has approved to incorporate a wholly-owned subsidiary of the company in Hyderabad, India to build a greenfield facility for formulations business,” Granules said in a regulatory filing.
The company, however, did not share more details.
Shares of Granules India Ltd were trading 0.69 percent higher at Rs 373.50 on BSE.
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