Shares of Indoco Remedies today ended with 12 per cent gains as the company has received an approval from the US Food and Drug Administration (USFDA) for its solid dosages manufacturing facility at Goa.
The stock soared 11 per cent to settle at Rs 296.75 on BSE. During the day, it jumped 17.44 per cent to Rs 314.
At NSE, shares of the company surged 11.94 per cent to close at Rs 295.75.
The company added Rs 271.56 crore in its market valuation to take it to Rs 2,734.56 crore.
In terms of volume, 1.11 lakh shares of the company changed hands at BSE and over 6 lakh shares were traded at NSE during the day.
"We have received the Establishment Inspection Report (approval) from the USFDA for the solid dosages manufacturing facility at Goa (Plant I), thereby confirming the closure of inspection in October, 2015," the firm had said in a statement yesterday.
"The approval by USFDA for the solid dosages facility re-confirms Indoco's quality commitment to patient care", the company's Managing Director Aditi Kare Panandikar said.
The plant has a capacity to manufacture 2.2 billion tablets, 32 million bottles of liquid orals, 16 million tubes of creams and ointments and 60 million capsules of hard gelatin, it said.
