Kilitch Drugs (India) witnessed a sharp rise in share price on Monday after the company formed a joint venture in the Republic of Ethiopia with a local party to set up a pharmaceutical or nutraceutical manufacturing unit. 

Moreover, the company shall be a partner to the tune of 97% and the Ethiopian partner shall hold remaining 3% in the said joint venture.

Kilitch Drugs (India) is engaged in the development and operations of pharmaceutical business.

Shares of Kilitch Drugs (India) are trading at Rs 38.15, up Rs 6.35, or 19.97% at the Bombay Stock Exchange (BSE) on Monday at 1:27 p.m.

The scrip has touched an intra-day high of Rs 38.15 and low of Rs 31.05. The total volume of shares traded at the BSE is 65,398.