Granules India board gives nod to set up subsidiary in Hyderabad

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 per cent higher at Rs 373.50 on BSE.

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