Sharon Bio-Medicine rose 12.61% to Rs 31.25 at 12:18 IST on BSE after the company said it received establishment inspection report from the US drug regulator for its Dehradun facility.
The announcement was made after market hours yesterday, 10 December 2015.
Meanwhile, the BSE Sensex was down 150.38 points, or 0.60%, to 25,101.94.
On BSE, so far 22.28 lakh shares were traded in the counter, compared with an average volume of 2.68 lakh shares in the past one quarter.
The stock hit a high of Rs 32.30 and a low of Rs 28.85 so far during the day. The stock hit a 52-week high of Rs 51.40 on 11 December 2014. The stock hit a 52-week low of Rs 12.45 on 6 July 2015.
The stock had outperformed the market over the past one month till 10 December 2015, rising 37.04% compared with 1.91% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 71.83% as against Sensex's 1.44% decline.
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The small-cap company has an equity capital of Rs 23.79 crore. Face value per share is Rs 2.
Sharon Bio Medicine said that it received the Establishment Inspection Report (EIR) from US Food and Administration (USFDA) conducted in August 2015 at its formulation manufacturing plant located at Central Hope Town in Dehradun.
The company added that its another plant located at Taloja in Maharashtra has also been inspected by the USFDA officials and outcome of the inspection is awaited.
Sharon Bio-Medicine reported net loss of Rs 75.79 crore in Q2 September 2015 as against net profit of Rs 18.11 crore in Q2 September 2014. Net sales declined 65.23% to Rs 112.99 crore in Q2 September 2015 over Q2 September 2014.
Sharon Bio-Medicine is involved in manufacture of intermediates, active pharmaceutical ingredients and finished dosage forms.
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