Zydus Life hits new peak; m-cap hits Rs 1 trn as stock up 60% in 3 months

The stock was quoting higher for a fifth straight trading day and has rallied 10 per cent during the period

Shares of Zydus Lifesciences hit a new high of Rs 1,015.70, surging nearly 4 per cent on the BSE in Monday's intraday trade, in an otherwise weak market, after the company said it has received the Establishment Inspection Report (EIR) report from the US drug regulator for its Ahmedabad facility.

Zydus Lifesciences, in an exchange filing, said the company has received the EIR report from the United States Food and Drug Administration (USFDA) for the inspection conducted at the API (active pharmaceutical ingredient) at Ahmedabad facility. An EIR means closure of inspection.

The company had earlier received a Post Application Action Letter