Torrent Pharmaceuticals rose 4.1% to Rs 1,308 at 13:35 IST on BSE after the firm said it has successfully obtained the Establishment Inspection Report from the United States Food and Drug Administration for its plant located at Dahez SEZ, in Gujarat.
The announcement was made during market hours today, 18 March 2016.Meanwhile, the S&P BSE Sensex was up 46.46 points or 0.19% at 24,723.83.
On BSE, so far 76,000 shares were traded in the counter as against average daily volume of 28,010 shares in the past one quarter. The stock hit a high of Rs 1,319 and a low of Rs 1,263.70 so far during the day. The stock had hit a record high of Rs 1,720 on 1 September 2015. The stock had hit a 52-week low of Rs 1,115 on 24 March 2015. The stock had underperformed the market over the past one month till 17 March 2016, sliding 4.97% compared with Sensex's 5.54% rise. The scrip had also underperformed the market in past one quarter, declining 12.99% as against Sensex's 4.37% fall.
The large-cap company has equity capital of Rs 84.61 crore. Face value per share is Rs 5.
Torrent Pharma's Dahez plant has been set up to cater mainly to the regulated international markets such as US, Brazil, Germany etc, Torrent Pharma said. The plant has an installed capacity of about 7,500 million tablets/capsules and 25 metric tonne (MT) active pharmaceutical ingredient (API) per annum, the company said. Construction of phase II will commence soon and once commissioned the total capacity will increase to about 14,000 million tablets/capsules and 80 MT API per annum, it added.
On consolidated basis, Torrent Pharmaceuticals' net profit rose 189.2% to Rs 483 crore on 31.1% growth in net sales to Rs 1515 crore in Q3 December 2015 over Q3 December 2014.
Torrent Pharma is the flagship company of the Torrent Group. The company is engaged in the manufacture of formulations and bulk drugs.
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