Divi's Lab shares end nearly 17% up, mcap rises by Rs 4,088 cr

Shares of Divi's Laboratories today surged nearly 17 per cent, adding Rs 4,088.29 crore to its market valuation, after it said the US health regulator will lift an import alert imposed on the company's Unit-II in Visakhapatnam.
The stock rose sharply by 16.73 per cent to end at Rs 1,074.30 on BSE. Intra-day, it zoomed 21.37 per cent to Rs 1,117.
On NSE, shares of the company soared 16.15 per cent to close at Rs 1,072.90.
The company's market valuation rose by Rs 4,088.29 crore to Rs 28,519.29 crore.
In terms of equity volume, 12.17 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

Divi's Laboratories today said the US health regulator will lift an import alert imposed on the company's Unit-II in Visakhapatnam and is moving to close out the warning letter issued to the unit.

The company "has been informed by the United States Food and Drug Administration (US FDA) that it will be lifting the Import Alert 66-40 and move to close out the warning letter issued to the company's Unit-II at Visakhapatnam", Divi's Laboratories said in a BSE filing.
It, however, did not share any details and timelines for resolution of the matter.
Earlier in July, the company announced that USFDA had moved to lift Import Alert 99-32 imposed on the unit.