FDC drops as USFDA issues observations for Waluj plant

FDC lost 3.65% to Rs 242.60 at 10:36 IST on BSE after the company said that USFDA has issued Form 483 with 8 observations for its sterile ophthalmic manufacturing facility at Waluj, Aurangabad.

The announcement was made after market hours yesterday, 20 August 2018.

Meanwhile, the S&P BSE Sensex was up 38.63 points, or 0.1% at 38,317.38

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 2,655 shares in the past two weeks. The stock had hit a high of Rs 246.80 and a low of Rs 232.30 so far during the day.

The mid-cap company has equity capital of Rs 17.44 crore. Face value per share is Rs 1.

FDC after net profit surged 74.48% to Rs 51.07 crore on 20.66% growth in net sales to Rs 285.70 crore in Q1 June 2018 over Q1 June 2017.

FDC is a pharmaceutical company. The company is engaged in manufacture of specialized formulations, and oral rehydration salts (ORS).

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