Shilpa Medicare spurts after getting recognition from Japan

Shilpa Medicare rose 10.05% to Rs 481.45 at 10:38 IST on BSE after the company said it received good manufacturing practice compliance certificate for two API sites from Pharmaceuticals and Medical Devices Agency, Japan.

The announcement was made after market hours yesterday, 12 April 2016.

Meanwhile, the BSE Sensex was up 433.10 points, or 1.72%, to 25,578.69 .

On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 58,435 shares in the past one quarter. The stock hit a high of Rs 503.65 and a low of Rs 475 so far during the day. The stock hit a record high of Rs 623.35 on 5 August 2015. The stock hit a 52-week low of Rs 355 on 20 January 2016. The stock had underperformed the market over the past one month till 12 April 2016, falling 0.10% compared with 1.73% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.99% as against Sensex's 1.88% rise.

The mid-cap company has an equity capital of Rs 7.71 crore. Face value per share is Re 1.

Shilpa Medicare said it received good manufacturing practice (GMP) compliance certificate for two active pharmaceutical ingredient (API) sites in Karnataka from Pharmaceuticals and Medical Devices Agency (PMDA), Japan.

On a consolidated basis, net profit of Shilpa Medicare rose 65.45% to Rs 28.01 crore on 28.31% rise in net sales to Rs 198.24 crore in Q3 December 2015 over Q3 December 2014.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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