RPG Life Sciences surges after getting EUGMP certification for formulation facility at Ankleshwar

RPG Life Sciences jumped 8.44% to Rs 253.20 at 10:41 IST on BSE after the company received GMP Certificate for its formulation manufacturing facility in Ankleshwar, Gujarat.

The announcement was made after market hours yesterday, 5 April 2016.

Meanwhile, the S&P BSE Sensex was up 19.35 points, or 0.08%, to 24,902.94

On BSE, so far 54,000 shares were traded in the counter as against an average daily volume of 17,320 shares in the past one quarter. The stock hit a high of Rs 259.90 and a low of Rs 246.60 so far during the day. The stock had hit a record high of Rs 360.60 on 3 December 2015. The stock had hit a 52-week low of Rs 130.50 on 24 April 2015. The stock had underperformed the market over the past one month till 5 April 2016, falling 2.18% compared with Sensex's 0.96% rise. The scrip had also underperformed the market in past one quarter, sliding 28.68% as against Sensex's 2.72% fall.

The small-cap company has an equity capital of Rs 13.23 crore. Face value per share is Rs 8.

RPG Life Sciences said that the company has received good manufacturing practice (GMP) certificate from Bavarian Authority, a competent authority in Germany, as per EUGMP standards for its formulation manufacturing facility at GIDC Industrial Estate, Ankleshwar, Gujarat. Bavarian Authority conducted audit of the manufacturing facility in early March 2016, RPG Life Sciences said. CT Renganathan, Managing Director, RPG Life Sciences said that the certification will help in boosting sales by expanding the company's geographical presence in the European markets.

RPG Life Sciences' net profit jumped 84.6% to Rs 4.67 crore on 24.8% rise in total income to Rs 73.21 crore in Q3 December 2015 over Q3 December 2014.

RPG Life Sciences is an integrated pharmaceutical company operating in the domestic and international markets in the Branded Formulations, Global Generics, Synthetic and Fermentation APIs space. The company is a research-based pharmaceutical company producing a wide range of medicines.

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