Dr Reddy's Lab advances as USFDA completes audit of plant

Dr Reddy's Laboratories rose 2.52% to Rs 2,708 at 9:43 IST on BSE after the company said the US drug regulator has completed the audit of its API plant at Srikakulam in Andhra Pradesh.

The announcement was made on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Meanwhile, the S&P BSE Sensex was down 62.23 points or 0.21% at 29,399.22.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 43,992 shares in the past one quarter. The stock had hit a high of Rs 2,721.95 and a low of Rs 2,696.15 so far during the day.

The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,560 on 22 March 2017. It had underperformed the market over the past one month till 13 April 2017, sliding 2.88% compared with the Sensex's 1.78% rise. The scrip had also underperformed the market over the past one quarter declining 11.45% as against the Sensex's 8.16% rise.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories (DRL) announced that the audit of its API Srikakulam plant in Andhra Pradesh by the US Food and Drug Administration (USFDA) was completed on Friday, 14 April 2017, with no observations.

Dr Reddy's Laboratories' consolidated net profit fell 15.9% to Rs 492.30 crore on 6.6% fall in net sales to Rs 3706.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddy's Laboratories is an integrated global pharmaceutical company.

Powered by Capital Market - Live News