Alembic Pharmaceuticals rose 3.38% to Rs 617 at 9:26 IST on BSE after the company announced successful USFDA inspection at its API facility at Panelav.
The announcement was made after market hours yesterday, 19 December 2018.Meanwhile, the S&P BSE Sensex was down 163.45 points, or 0.45% to 36,320.88.
On the BSE, 1,534 shares were traded in the counter so far compared with average daily volumes of 2,165 shares in the past two weeks. The stock had hit a high of Rs 621.35 and a low of Rs 606.65 so far during the day. The stock hit a 52-week high of Rs 664 on 27 September 2018. The stock hit a 52-week low of Rs 412.40 on 24 May 2018.
Alembic Pharmaceuticals announced that the United States Food and Drug Administration (USFDA) has conducted an inspection at the company's Active Pharmaceutical Ingredient (API) facility located at Panelav in Gujarat from 17 December 2018 to 19 December 2018. This was a scheduled inspection and at the end of the inspection, there were zero 483s.
On a consolidated basis, net profit of Alembic Pharmaceuticals rose 64.59% to Rs 200.07 crore on 42.79% rise in net sales to Rs 1127.06 crore in Q2 September 2018 over Q2 September 2017.
Alembic Pharmaceuticals manufactures and markets generic pharmaceutical products across the globe.
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