 "USFDA inspects Shilpa Medicare facilities; stock hits record high")
Shilpa Medicare has rallied 6% to Rs 983 on BSE after the pharmaceutical company said that US drug regulator has inspected manufacturing facilities of the company in Raichur in Karnataka.
“The manufacturing facilities of the company at 4- A, Deosugur Industrial Area, Deosugur, Raichur and 33-33-A, 40-47, Raichur Industrial Growth Centre, Wadloor Road, Chicksugur Cross, Chicksugur, Raichur have been inspected by US FDA (Food and Drug Administration) auditors,” Shilpa Medicare said a BSE filing.
The result of the audit is awaited, it added.
The stock opened at Rs 929 and touched a record high of Rs 1,019 on BSE. The trading volumes on the counter more than doubled with a combined 300,549 shares changed hands till 1132 hours against an average sub 100,000 shares that were traded daily in past two weeks on BSE and NSE.
In past four trading sessions, the stock surged 27% from Rs 771 on March 3, 2015 compared with 2.6% fall in the benchmark S&P BSE Sensex.
“The manufacturing facilities of the company at 4- A, Deosugur Industrial Area, Deosugur, Raichur and 33-33-A, 40-47, Raichur Industrial Growth Centre, Wadloor Road, Chicksugur Cross, Chicksugur, Raichur have been inspected by US FDA (Food and Drug Administration) auditors,” Shilpa Medicare said a BSE filing.
The result of the audit is awaited, it added.
The stock opened at Rs 929 and touched a record high of Rs 1,019 on BSE. The trading volumes on the counter more than doubled with a combined 300,549 shares changed hands till 1132 hours against an average sub 100,000 shares that were traded daily in past two weeks on BSE and NSE.
In past four trading sessions, the stock surged 27% from Rs 771 on March 3, 2015 compared with 2.6% fall in the benchmark S&P BSE Sensex.