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The board of Mankind Pharma has approved raising up to Rs 10,000 crore through NCDs and commercial papers on a private placement basis. In an exchange filing, the company said that the board of Mankind Pharma has constituted and authorized a fund raising committee to take all necessary actions including finalizing the terms of the issuance, allotment of NCDs and CPs and other related matters.
Mankind Pharma, which makes Manforce condoms and Prega News pregnancy kits, reported a 10 per cent rise in its consolidated profit to Rs 536 crore for the quarter ended June 30. The company's income from operations grew nearly 12 per cent to Rs 2,893 crore, but expenses rose 15.5 per cent.
Stock performance On September 20, Mankind Pharma shares closed 5 per cent higher at Rs 2,546 per share on the NSE. The company's stock has seen a growth of 49.07 per cent in the last one year. The stock's 52-week high is Rs 2,597.
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