Dr Reddy's Laboratories gained 0.54% to Rs 2,440.50 at 11:45 IST on BSE after the company said that US drug regulator completed the audit of its formulations plant in Andhra Pradesh with zero observations.
The announcement was made after market hours yesterday, 25 May 2017.Meanwhile, the S&P BSE Sensex was up 179.53 points, or 0.63% to 30,945.12.
The stock had dropped 11.15% in six sessions to Rs 2,427.30 yesterday, 25 May 2017 from a close of Rs 2,731.95 on 17 May 2017.
On the BSE, 24,482 shares were traded in the counter so far, compared with average daily volumes of 40,962 shares in the past one quarter.
At the day's high of Rs 2,548.75 hit in early trade, the stock had jumped 5%. The stock had hit a low of Rs 2,431.15 so far during the day. The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,400 yesterday, 25 May 2017.
The stock had underperformed the market over the past one month till 25 May 2017, dropping 8.25% compared with 2.69% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 16.01% as against Sensex's 6.43% rise.
The large-cap drug major has equity capital of Rs 82.87 crore. Face value per share is Rs 5.
Dr Reddy's Laboratories said that the United States Food & Drug Administration (USFDA) completed the audit of its formulations Srikakulum plant (SEZ) unit II, in Andhra Pradesh on 25 May 2017 with zero observations.
Dr Reddy's Laboratories' consolidated net profit rose 175.4% to Rs 337.60 crore on 5.4% decline in net sales to Rs 3554.20 crore in Q4 March 2017 over Q4 March 2016.
Dr Reddy's Laboratories is an integrated global pharmaceutical company.
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