Orchid Chemicals and Pharmaceuticals are trading higher by almost 4% to Rs 69.10, extending its previous day’s 5% rally after the company said Cephalosporin API manufacturing complex located in Alathur has cleared the US Food and Drug Administration (USFDA) inspection.
The stock opened at Rs 67.90 and hit a high of Rs 69.35 on NSE. A combined 421,167 shares have already changed hands on the counter till 0944 hours against an average 500,000 shares that were traded daily in past two weeks on NSE and BSE.
“The company’s Cephalosporin API manufacturing complex located in Alathur, Chennai has successfully cleared the USFDA inspection that it went through,” Orchid Chemicals said in a BSE filing.
The facility manufactures a range of oral and sterile Cephalosporin APIs and caters to the developed markets like USA, Europe and Japan, it added.
The stock opened at Rs 67.90 and hit a high of Rs 69.35 on NSE. A combined 421,167 shares have already changed hands on the counter till 0944 hours against an average 500,000 shares that were traded daily in past two weeks on NSE and BSE.
“The company’s Cephalosporin API manufacturing complex located in Alathur, Chennai has successfully cleared the USFDA inspection that it went through,” Orchid Chemicals said in a BSE filing.
The facility manufactures a range of oral and sterile Cephalosporin APIs and caters to the developed markets like USA, Europe and Japan, it added.