Shilpa Medicare rose 5.75% to Rs 592.70 at 14:20 IST on BSE after the successful completion of US drug regulator's inspection of company's SEZ formulations facility.
The announcement was made during market hours today, 26 July 2016.High volumes were witnessed on the counter. On BSE, so far 78,119 shares were traded in the counter, compared with an average volume of 19,845 shares in the past one quarter. The stock hit a high of Rs 612.20 and a low of Rs 560.45 so far during the day. The stock hit a record high of Rs 623.35 on 5 August 2015. The stock hit a 52-week low of Rs 355 on 20 January 2016. The stock had outperformed the market over the past one month till 25 July 2016, rising 19.73% compared with 6.43% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.58% as against Sensex's 9.41% rise.
The mid-cap company has an equity capital of Rs 7.71 crore. Face value per share is Re 1.
Shilpa Medicare announced that it has not received form 483 for its SEZ Formulations facility situated at Jadcherla, near Hyderabad from the United States Food & Drug Administration (USFDA) after the audit was conducted by the USFDA at the facility from 18 July 2016 to 26 July 2016.
An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigators has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
On a consolidated basis, Shilpa Medicare's net profit rose 66.8% to Rs 37.47 crore on 19% rise in net sales to Rs 198.48 crore in Q4 March 2016 over Q4 March 2015.
Shilpa Medicare is engaged in the business of bulk drugs manufacturing.
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