Tejnaksh Healthcare, which specializes in kidney care/urology, is making some moves on the bourses today.
The company yesterday morning announced that it has developed and patented and now ready-to-use simulators, made available commercially. It has developed a total of six simulators, all in the field of urology, used for various purposes like endoscopy, removal of stones, prostrate and three more in the same vein. The company is selling these at affordable rates, making its reach wider.
And a couple of weeks ago, the Department of Scientific & Industrial Research (DSIR)granted recognition and registration to its in-house R&D. This recognition is valid for 3-years, renewable every three years.
Getting this recognition means the company gets various tax benefits - 100% deduction is allowed for Capital expenditure on R&D including cost of building (excluding cost of land), plant &equipment’s etc. It also gets a weighted deduction of 200% for all expenditures (other than Land & Building) incurred for R&D purpose.
The in-house R&D units recognized by DSIR are also eligible for receiving funds for R&D purpose from various government departments and agencies such as DST, DBT, CSIR. ICMR, ICAR, and TDB.
The stock price today rose 9% to hit an intraday high at Rs.74.70, not too far from its 10% UC of the day at Rs.75.40. Its 52-week high is at Rs.85.
Its market cap is less than Rs.75 crore, promoters hold 73.84% stake and it had ended Q3FY21 with a revenue of Rs.2.50 crore and net profit of Rs.61 lakh.