Dr Reddy's spurts after getting EIR for Bachupally facility

Dr Reddy's Laboratories surged 4.13% to Rs 2,284 at 09:26 IST on BSE after the company said it has received an Establishment Inspection Report from the USFDA as closure of audit for the Bachupally, Hyderabad facility.

The announcement was made after market hours yesterday, 11 December 2017.

Meanwhile, the S&P BSE Sensex was down 102.53 points or 0.31% at 33,353.26.

On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 61,827 shares in the past one quarter. The stock had hit a high of Rs 2,328 and a low of Rs 2,274 so far during the day. The stock had hit a 52-week high of Rs 3,215 on 9 December 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.

The large-cap company has equity capital of Rs 82.94 crore. Face value per share is Rs 5.

Dr. Reddy's Laboratories said that the company has received an Establishment Inspection Report (EIR) from the USFDA yesterday, 11 December 2017 as closure of audit for the Bachupally, Hyderabad facility.

Earlier, the company had on 28 April 2017 informed about the audit of its Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad by the USFDA, wherein it was issued a form 483 with 11 observations.

On a consolidated basis, Dr Reddy's Laboratories' net profit fell 1.1% to Rs 305.40 crore on 1.88% decline in total income to Rs 3591.40 crore in Q2 September 2017 over Q2 September 2016.

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

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