Caplin Point Laboratories was locked at 5% upper circuit at Rs 184.25 at 10:17 IST on BSE, triggered by the company's state-of-art injectable plant near Gummidipoondi, Tamil Nadu commencing its commercial production on Thursday, 27 March 2014.
Meanwhile, the S&P BSE Sensex was up 56.17 points or 0.25% at 22,270.54.
On BSE, so far 3,205 shares were traded in the counter as against average daily volume of 21,000 shares in the past two weeks.
The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 184.25 so far in the day.
Shares of Caplin Point Laboratories have rallied 10.23% in two trading sessions from Rs 167.15 on 26 March 2014, after the company during trading hours on Thursday, 27 March 2014 said that its state-of-art injectable plant near Gummidipoondi, Tamil Nadu has commenced its commercial production on Thursday, 27 March 2014. The stock had surged by the maximum permissible level of 5% to settle at Rs 175.50 on Thursday, 27 March 2014.
Caplin Point Laboratories said that the company's state-of-art injectable plant near Gummidipoondi, Tamil Nadu to cater regulated markets USA, EU, Brazil, South Africa etc., has commenced its commercial production today, 27 March 2014. This will now enable export of these products to semi regulated and non regulated markets, the company said.
Caplin Point Laboratories said it has now initiated the process of submitting required documents for obtaining approval from regulatory bodies such as UKMHRA, ANVISA, BRAZIL, USFDA, EUGMP which would enable export of injectables in various dosage forms to the regulated markets besides offering contract manufacturing for export to these markets.
Caplin Point Laboratories' consolidated net profit surged 114.3% to Rs 7.80 crore on 40% growth in net sales to Rs 42.85 crore in Q2 December 2013 over Q2 December 2012.
Caplin Point Laboratories currently has three fully functioning facilities and one more facility in the pipeline, capable of manufacturing a wide range of dosage forms and products catering to all segments of the pharmaceutical industry.
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