Biocon rose 2.37% to Rs 365.50 at 09:17 IST on BSE after the company announced that the USFDA has completed its Vishakhapatnam unit's inspection with no observations.
The announcement was made after market hours yesterday, 18 September 2017.Meanwhile, the S&P BSE Sensex was up 17.98 points, or 0.06% to 32,441.74.
On the BSE, 49,000 shares were traded in the counter so far, compared with average daily volumes of 4.45 lakh shares in the past one quarter. The stock had hit a high of Rs 370 and a low of Rs 363.95 so far during the day. The stock hit a record high of Rs 424.15 on 19 July 2017. The stock hit a 52-week low of Rs 267.83 on 9 November 2016.
The large-cap company has equity capital of Rs 300 crore. Face value per share is Rs 5.
Biocon said that the United States Food and Drug Administration (USFDA) inspected the company's active pharmaceutical ingredients (API) manufacturing facility in Vishakhapatnam, Andhra Pradesh from 11 September to 15 September 2017 and completed the audit without any observations. No form 483 was issued, the company said.
On a consolidated basis, net profit of Biocon declined 51.2% to Rs 81.30 crore on 5.6% decline in net sales to Rs 927.40 crore in Q1 June 2017 over Q1 June 2016.
Biocon is India's largest and fully-integrated, innovation-led biopharmaceutical company.
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