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Shares of Ipca Laboratories slipped 5% to Rs 663 on BSE on media reports that the company got US Food and Drug Administration (FDA) import alert for Ratlam plant.
The USFDA has banned imports from Indian generic drugmaker Ipca Laboratories Ltd's plant at Ratlam in Madhya Pradesh due to violations of standard production practices, the Reuters report suggest.
The FDA announced the ban, called import alert, in a notice on its website late on Thursday. It did not elaborate, added report.
The stock opened at Rs 659 and touched a low of Rs 640 on BSE. The counter has seen huge trading volumes with a combined 1.18 million shares changed hands till 1045 hours against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
The USFDA has banned imports from Indian generic drugmaker Ipca Laboratories Ltd's plant at Ratlam in Madhya Pradesh due to violations of standard production practices, the Reuters report suggest.
The FDA announced the ban, called import alert, in a notice on its website late on Thursday. It did not elaborate, added report.
The stock opened at Rs 659 and touched a low of Rs 640 on BSE. The counter has seen huge trading volumes with a combined 1.18 million shares changed hands till 1045 hours against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
