Shasun Pharmaceuticals spurted 7.77% to Rs 182.30 at 12:45 IST on BSE after the company said it has successfully completed both USFDA and Mexican COFEPRIS inspection at its API facility at Cuddalore in Tamil Nadu.
The announcement was made during market hours today, 8 July 2014.
Meanwhile, the S&P BSE Sensex was down 64.32 points or 0.25% at 26,035.76.
The stock surged on heavy volumes. On BSE, so far 9.99 lakh shares were traded in the counter as against average daily volume of 2.76 lakh shares in the past one quarter.
The stock hit a high of Rs 196.70 so far during the day, which is a record high for the counter. The stock hit a low of Rs 161.65 so far during the day. The stock hit a 52-week low of Rs 49 on 5 August 2013.
The stock had outperformed the market over the past one month till 7 July 2014, surging 9.38% compared with Sensex's 2.77% rise. The scrip had also outperformed the market in past one quarter, jumping 112.77% as against Sensex's 16.81% rise.
Also Read
The small-cap company has equity capital of Rs 11.32 crore. Face value per share is Rs 2.
Shasun Pharmaceuticals (Shasun Pharma) said that the USFDA audit at the company's API facility at Cuddalore in Tamil Nadu was held on second week of June 2014 and the Mexican COFEPRIS audit by APIF was held during the last week of June 2014.
On completion of the inspection the USFDA inspectors concluded that the facility, systems and practices comply with USFDA requirements with minor 483sand on completion of the inspection APIF concluded that Shasun's compliance with current good manufacturing practices (Cgmp) are fully met and a formal GMP certificate will be issued by COFEPRIS in due course, Shasun Pharma said in a statement.
Shasun Pharmaceuticals' consolidated net profit declined 21.6% to Rs 10.40 crore on 32.2% growth in net sales to Rs 346.56 crore in Q4 March 2014 over Q4 March 2013.
Shasun Pharmaceuticals is a leading manufacturer of APIs and formulations, catering to global customers, with world class capabilities and facilities. Shasun offers formulation and generic manufacturing services at its Indian sites together with a contract research and manufacturing services for APIs in India and UK.
Powered by Capital Market - Live News