Dishman Pharmaceuticals and Chemicals rose 4.34% to Rs 142 at 11:10 IST on BSE after the company said that US drug regulator's inspection of the firm's Bavla facility in Gujarat was successfully completed on 8 July 2016.
Meanwhile, the BSE Sensex was up 461.75 points, or 1.70%, to 27,588.65.
On BSE, so far 2.36 lakh shares were traded in the counter, compared with average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 149 and a low of Rs 141.55 so far during the day. The stock hit a 52-week high of Rs 209.85 on 4 November 2015. The stock hit a 52-week low of Rs 79.78 on 20 July 2015. The stock had underperformed the market over the past 30 days till 8 July 2016, falling 9.63% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 18.27% as against Sensex's 9.94% rise.
The small-cap company has an equity capital of Rs 32.28 crore. Face value per share is Rs 2.
Dishman Pharmaceuticals and Chemicals announced on Saturday, 9 July 2016, that renewal of US Food and Drug Administration (USFDA) inspection of the company's Bavla facility in Ahmedabad, Gujarat has been successfully completed on 8 July 2016.
The Bavla manufacturing facility plant has a state-of-the-art research and development (R&D) centre with 200 scientists focused on process development and industrialisation, working in continuous three shift, 6-day R&D operations.
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On a consolidated basis, net profit of Dishman Pharmaceuticals and Chemicals rose 29.29% to Rs 49.92 crore on 3.55% decline in net sales to Rs 405.67 crore in Q4 March 2016 over Q4 March 2015.
Dishman Pharmaceuticals and Chemicals is the global outsourcing partner for the pharmaceutical industry offering a portfolio of development, scale-up and manufacturing services. The products and services offered by the company spans from chemical development to commercial manufacture and supply of active pharmaceutical ingredients.
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