Indoco Remedies rose 3.31% to Rs 224.45 at 9:44 IST on BSE after the company said its Patalganga site received Japanese accreditation.
The announcement was made after market hours yesterday, 4 April 2018.Meanwhile, the S&P BSE Sensex was up 346.99 points, or 1.05% to 33,366.06.
On the BSE, 4,446 shares were traded in the counter so far compared with average daily volumes of 54,000 shares in the past two weeks. The stock had hit a high of Rs 227 and a low of Rs 223 so far during the day. The stock hit a 52-week high of Rs 317 on 24 January 2018. The stock hit a 52-week low of Rs 179 on 31 May 2017.
Indoco Remedies announced that its active pharmaceutical ingredient (API) plant at Patalganga has received accreditation renewal from the Japanese Regulatory Authorities. The accreditation is valid until 21 May 2023.
Net profit of Indoco Remedies rose 28.82% to Rs 22.66 crore on 0.73% rise in net sales to Rs 274.19 crore in Q3 December 2017 over Q3 December 2016.
Indoco Remedies is a fully integrated, research-oriented pharma company engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs).
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