ALSO READ8K Miles Software extends falls, hits 52-week low Divi's Laboratories: High on hopes 8K Miles rallies 42% in 7-days after stake sale by promoter M V Bhaskar Divi's Labs surges 21% as USFDA to lift import alert for Visakhapatnam unit Divi's Labs surges 6% on successful USFDA inspection of Unit-2
Divi’s Laboratories surged 21% to Rs 1,117 on the BSE in early morning trade after the company announced that the US drug regulator will lift import alert for its Visakhapatnam unit.
“The company has been informed by the U.S. Food and Drug Administration (US-FDA) that it will be lifting the Import Alert 66-40 and moving to close out the Warning letter issued to the company's Unit-II at Visakhapatnam,” Divi’s Laboratories said in a regulatory filing.
Hexaware Technologies hits 52-week high of Rs 322, up 15% after the company reported a better than expected consolidated net profit of Rs 142 crore in September 2017 quarter (Q3CY17). The analysts on an average had expected profit of Rs 122 crore for the quarter.
While company has maintained its CY17 revenue guidance of 14%-15%, management has guided for achieving growth towards the upper end of the range. The company revised upward Ebitda (earnings before interest, tax, depreciation and amortization) growth guidance to 16.5%-17.5%. The previous guidance was that Ebitda growth will be in line with revenue growth i.e. 14-15%.
8K Miles Software Services was too hit its 52-week high of Rs 856, up 19%, extending its 29% rally of the last three sessions on the BSE. In past seven trading days, since M V Bhaskar sold majority of his stake in the company on October 24, the stock surged 52% from Rs 564, as compared to 3% rise in the S&P BSE Sensex. In past one month, the stock of internet software & services provider zoomed 129%, against 7% rise in the benchmark index.
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