Indoco Remedies spurted 11.69% to Rs 298.60 at 10:25 IST on BSE after the company said it has received the Establishment Inspection Report from US Food and Drug Administration for its solid dosages manufacturing facility at Goa (plant I).
The announcement was made after market hours yesterday, 21 March 2016.Meanwhile, the S&P BSE Sensex was down 68.66 points or 0.27% at 25,216.71.
On BSE, so far 65,000 shares were traded in the counter as against average daily volume of 1,459 shares in the past two weeks. The stock hit a high of Rs 314 and a low of Rs 284.15 so far during the day. The stock had hit a record high of Rs 413.10 on 25 May 2015. The stock had hit a 52-week low of Rs 244 on 25 February 2016. The stock had underperformed the market over the past one month till 21 March 2016, rising 1.48% compared with Sensex's 6.65% rise. The scrip had also underperformed the market in past one quarter, sliding 16.61% as against Sensex's 1.75% fall.
The small-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.
Indoco Remedies' net profit declined 5.6% to Rs 20.42 crore on 19.6% growth in net sales to Rs 254.61 crore in Q3 December 2015 over Q3 December 2014.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (API) in India. Indoco has a strong international presence in the regulated and emerging markets.
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