You are here: Home » Companies » News
Business Standard

Cadila shares soar 20%; mcap surges by Rs 7,309 cr

Led by sharp surge in the stock, its market valuation rose to Rs 43,964.63 crore

Press Trust of India  |  New Delhi 

cadila, cadila healthcare, pharma
Cadila Pharmaceuticals

of Thursday zoomed almost 20 per cent, adding Rs 7,309 crore to its market valuation, after the company said the US health regulator has inspected the firm's Moraiya plant and found it meeting the manufacturing norms.

Cheering the news, of the company skyrocketed 19.94 per cent to end at Rs 429.45 on During the day, the stock advanced by 22.83 per cent to Rs 439.80 -- its 52-week high.

On NSE, of the company soared 19.83 per cent to close at Rs 429.50.

Led by the sharp surge in the stock, the company's market valuation rose by Rs 7,309.63 crore to Rs 43,964.63 crore.

On the volume front, 10 lakh shares of the company were traded on and over 87 lakh shares changed hands at during the day.

"did not got any 483 issued in favour of its Moriaya plant. This marks an important relief for the company," said Sarabjit Kour Nangra VP Research - Pharma, Angel Broking.

"United States Food and Drug Administration (USFDA) inspected company's Moraiya facility from February 6, 2017 to February 15, 2017. At the end of the inspection no observation (483) is issued," said in a filing to

The FDA Form 483 notifies the company's management of objectionable conditions.

As per the US health regulator's site "An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts".

First Published: Thu, February 16 2017. 17:30 IST