Dishman Carbogen extends Thursday's rally

Dishman Carbogen Amcis hit an upper circuit limit of 5% at Rs 337.60 at 9:41 IST on BSE, extending Thursday's rally triggered by the US health regulator clearing the company's Switzerland unit.

Meanwhile, the S&P BSE Sensex was up 148.46 points or 0.47% at 31,430.94.

On the BSE, 14,000 shares were traded in the counter so far, compared with average daily volumes of 1.28 lakh shares in the past one quarter. The stock had hit a high of Rs 337.60 and a low of Rs 328.40 so far during the day.

Shares of Dishman Carbogen Amcis have rallied 10.23% in two trading sessions to its ruling market price, from its close of Rs 306.25 on 27 September 2017 after the company during trading hours yesterday, 28 September 2017 said its Switzerland unit received zero observations from the US health regulator. The stock had surged 5% to settle at Rs 321.55 yesterday, 28 September 2017.

Dishman Carbogen Amcis said that its wholly-owned subsidiary, Carbogen Amcis AG's manufacturing site in Bubendorf, Switzerland, has successfully completed a routine US Food and Drug Administration (USFDA) inspection. The inspection was concluded without any major or critical observations or Form 483's, thus confirming that no concerns were discovered during the inspection.

On a consolidated basis, Dishman Carbogen Amcis' net profit fell 57% to Rs 13.02 crore on 7.4% decline in net sales to Rs 336.99 crore in Q1 June 2017 over Q1 June 2016.

Dishman Carbogen Amcis operates as an outsourcing partner for the pharmaceutical industry.

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