Orchid Pharma was locked at 20% upper circuit at Rs 21.45 at14:25 IST on BSE after the company said that it has received the Establishment Inspection Report from USFDA for active pharmaceutical ingredients manufacturing facility in Tamil Nadu.
The announcement was made during market hours today, 21 September 2017.Meanwhile, the S&P BSE Sensex was down 35.11 points, or 0.11% at 32,365.40. The S&P BSE Small-cap index was down 67.25 points, 0.4% at 16,803.59.
More than usual volumes were witnessed on the counter. On the BSE, 4.07 lakh shares were traded on the counter so far as against the average daily volumes of 87,660 shares in the past one quarter. The stock was locked at a high of Rs 21.45 so far. The stock had hit a low of Rs 17.80 so far during the day. The stock had hit a 52-week high of Rs 45.85 on 28 September 2016 and a 52-week low of Rs 16.70 on 15 September 2017.
The stock had underperformed the market over the past one month till 20 September 2017, falling 28.11% compared with 2.78% gain in the Sensex. The scrip had also underperformed the market in past one quarter, falling 35.03% as against Sensex's 3.52% rise. The scrip had also underperformed the market in past one year, dropping 53.14% as against Sensex's 13.59% upmove.
The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.
Orchid Pharma said that it has received the Establishment Inspection Report (EIR) from United States Food & Drug Administration (USFDA) based on the successful inspection of the active pharmaceutical ingredients manufacturing facility located at SIDCO Industrial Estate, Alathur, Kanchipuram District, Tamil Nadu, India. This facility was inspected by USFDA in May 2017.
Orchid Pharma reported net loss of Rs 187.85 crore in Q4 March 2017 compared with net loss of Rs 63.74 in Q4 March 2016. Net sales fell 2.2% to Rs 204.88 crore in Q4 March 2017 over Q4 March 2016.
Orchid Pharma is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery.
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