Granules India fell 2.56% to Rs 112.50 at 10:56 IST on BSE after the USFDA completed inspection of joint venture company's Vizag facility with 7 observations.
The announcement was made after market hours yesterday, 19 December 2016.Meanwhile, the S&P BSE Sensex was up 27.33 points or 0.1% at 26,402.03
On the BSE, 70,000 shares were traded on the counter so far as against the average daily volumes of 1.59 lakh shares in the past one quarter. The stock had hit a high of Rs 113.80 and a low of Rs 111.30 so far during the day. The stock had hit a 52-week high of Rs 161.35 on 21 December 2015. The stock had hit a 52-week low of Rs 91.45 on 9 November 2016. The stock had outperformed the market over the past 30 days till 19 December 2016, rising 11.98% compared with the 0.86% rise in the Sensex. The scrip also outperformed the market in past one quarter, falling 4.78% as against Sensex's 7.53% decline.
The small-cap company has equity capital of Rs 21.73 crore. Face value per share is Re 1.
Granules India announced that Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem NV, located at Vizag, Andhra Pradesh completed its first inspection by US Food and Drugs Administration (USFDA) with seven observation. Granules OmniChem will respond to these observations within stipulated time period, the company said. This facility currently manufactures active pharmaceutical ingredient (API) intermediates, it added.
Granules India's net profit rose 25.05% to Rs 33.50 crore on 0.49% growth in net sales to Rs 341.22 crore in Q2 September 2016 over Q2 September 2015.
Granules India produces finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients for customers in the regulated and semi-regulated markets.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
