Divi’s Lab is second pharma player to enter big league of companies

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By Ashish Mitra --
Friday, 18 Dec, 2020

Hyderabad-based Divi’s Laboratories has become the second pharma player in the country to enter the big league of companies with a market capitalisation of Rs 1 lakh crore or more. It follows Sun Pharma that is on the first place. Led by Reliance Industries, there are only 31 companies out of a total of about 5,000 companies in India that can boast of this milestone.

Divi’s has set a scorching pace on the bourses in the past decade: From about Rs 8,000 crore in December 2010, the company’s market value at yesterday’s close was Rs 1.02 lakh crore, a jump of over 12 times during this period. The stock closed the day’s session on BSE at Rs 3,826, more than double from its March low of Rs 1,633.

The day the company, a major player in the contract research & manufacturing services space (CRAMS) reached a milestone on the bourses, it had to encounter protest by hundreds of farmers and fishermen at one of its under-construction plant at Kothapakala village in East Godavari district of Andhra Pradesh. People fear that effluents from the plant may adversely affect their catch.

Divi’s Lab is second pharma player to enter big league of companies. Hyderabad-based Divi’s Laboratories has become the second pharma player in the country to enter the big league of companies with a market capitalisation of Rs 1 lakh crore or more. It follows Sun Pharma that is on the first place. Led by Reliance Industries, there are only 31 companies out of a total of about 5,000 companies in India that can boast of this milestone.

Divi’s has set a scorching pace on the bourses in the past decade: From about Rs 8,000 crore in December 2010, the company’s market value at yesterday’s close was Rs 1.02 lakh crore, a jump of over 12 times during this period. The stock closed the day’s session on BSE at Rs 3,826, more than double from its March low of Rs 1,633.

The day the company, a major player in the contract research & manufacturing services space (CRAMS) reached a milestone on the bourses, it had to encounter protest by hundreds of farmers and fishermen at one of its under-construction plant at Kothapakala village in East Godavari district of Andhra Pradesh. People fear that effluents from the plant may adversely affect their catch.