USFDA renewal perks up Wanbury

DALAL STREET SPIKES

The stock surged 10.5 per cent to Rs 98.4, after touching a high of Rs 101.7. A total of 4,82,444 shares changed hands on BSE. The stock has shot up nearly 37 per cent over the past month.

USFDA has renewed its approval for Wanbury's multi-product API facility near Panvel, from where it will manufacture three new products, viz Tramadol, Amytriptyline and Paroxetine.

The company recently acquired Doctors Organic Chemicals and Pharmaceutical Products of India.

The company registered a net profit growth of three per cent to Rs 3.10 crore compared with Rs 3.01 crore in the previous corresponding quarter. Net sales rose 41 per cent to Rs 27.38 crore.