Divi's Labs gains 4% on successful USFDA inspection of Telangana unit

The stock was up 4% to Rs 1,213 on the BSE in early morning deal, trading close to its 52-week high of Rs 1,220 touched on May 11, 2018.

Shares of Divi’s Laboratories were up 4% at Rs 1,213 per share on the BSE in early morning trade after the drug firm said that the inspection conducted by the US health regulator of its Unit-1 facility at Choutuppal, Telangana this month was successful. The stock was trading close to its 52-week high of Rs 1,220 touched on May 11, 2018 in intra-day trade.

“Unit-I at Choutuppal, Telangana state has had an inspection by the United States Food and Drug Administration (US-FDA) from 14th May 2018 to 16th May, 2018. This was a general cGMP inspection by the FDA. The inspection has been concluded with no 483 observations,” Divi’s Labs said in a BSE filing.

At 09:27 am; the stock was trading 3% higher at Rs 1,199 on the BSE, as compared to 0.12% rise in the S&P BSE Sensex. A combined 264,718 shares changed hands on the counter on the BSE and NSE so far.