Caplin Point Laboratories was locked at 5% upper circuit at Rs 175.50 at 12:01 IST on BSE after the company said that its state-of-art injectable plant near Gummidipoondi, Tamil Nadu has commenced its commercial production today, 27 March 2014.
The announcement was made during trading hours today, 27 March 2014.
Meanwhile, the S&P BSE Sensex was up 114.99 points or 0.52% at 22,210.29.
On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 31,266 shares in the past one quarter.
The stock hit a low of Rs 163.15 so far during the day. The stock had hit a record high of Rs 180.60 on 21 March 2014. The stock had hit a 52-week low of Rs 43.15 on 28 June 2013.
The stock had outperformed the market over the past one month till 26 March 2014, surging 20.04% compared with the Sensex's 5.28% rise. The scrip had also outperformed the market in past one quarter, galloping 84.59% as against Sensex's 4.84% rise.
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The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.
Caplin Point Laboratories said that the company's state-of-art injectable plant near Gummidipoondi, Tamil Nadu to cater regulated markets USA, EU, Brazil, South Africa etc., has commenced its commercial production today, 27 March 2014. This will now enable export of these products to semi regulated and non regulated markets, the company said.
Caplin Point Laboratories said it has now initiated the process of submitting required documents for obtaining approval from regulatory bodies such as UKMHRA, ANVISA, BRAZIL, USFDA, EUGMP which would enable export of injectables in various dosage forms to the regulated markets besides offering contract manufacturing for export to these markets.
Caplin Point Laboratories' consolidated net profit surged 114.3% to Rs 7.80 crore on 40% growth in net sales to Rs 42.85 crore in Q2 December 2013 over Q2 December 2012.
Caplin Point Laboratories currently has three fully functioning facilities and one more facility in the pipeline, capable of manufacturing a wide range of dosage forms and products catering to all segments of the pharmaceutical industry.
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