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Dr Reddy's rallies after receiving EIR from USFDA

The stock was trading 3% higher at Rs 2,498, after rallying 10% in intra-day trade as the company received EIR from the USFDA for Vishakhapatnam facility, but the inspection has not closed.

Dr Reddy's
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SI Reporter Mumbai
Dr Reddy’s Laboratories moved higher by 10% to Rs 2,494 on the BSE at 10:16 AM; after the company said its facility at Vishakhapatnam received Establishment Inspection Report (EIR) from the US health regulator, but the inspection has not closed.

The stock erased most of its gain and was trading 3% higher at Rs 2,498 on the BSE and NSE at 10:42 AM. The trading volumes on the counter more than doubled with a combined 1.07 million shares changed hands in first one-and-half hour of trading on both the exchanges.

Dr Reddy’s Laboratories said in a regulatory filing