Pharmaceutical company Granules India on Monday said that the reports of the company being sold to some PE (private equity) investors that were floating in social media are 'false and malicious'. The management continues to remain committed to the growth of the company,'' Granules India said in an exchange filing. Shares of Granules India closed over 7% higher to ₹366.4 per share on the BSE on Friday. Granules India Limited is an Indian pharmaceutical manufacturing company based in Hyderabad, India, which is involved in manufacturing of several off-patent drugs like Paracetamol, Ibuprofen, Guaifenesin and Metformin. For the financial year ended March this year, the company posted a net profit of ₹549 crore as against ₹335 crore for the previous financial year.

Source: Mint July 12, 2021 03:00 UTC