Shilpa Medicare rallies on getting GMP compliance certificate

The stock rallied 13% to Rs 493 on the BSE in early morning trade.

Shilpa Medicare has rallied 13% to Rs 493 on the BSE in early morning trade after the pharmaceutical company announced that it has received good manufacturing practice (GMP) compliance certificate for two API sites from Pharmaceuticals and Medical Devices Agency (PMDA), Japan.

“The company received GMP compliance certificate for two API sites, unit-1: Deosugur Industrial Area, Deosugur-584170, Raichur, Karnataka, India and unit-2: Plot nos. 33, 33A, 40 to 47, Raichur Industrial growth Centre, Wadloor Road, Chicksugur-584134, Raichur, Karnataka, India from PMDA-Japan,” Shilpa Medicare said in a statement.

At 09:16 am, the stock was up 11% at Rs 484 on the BSE. A combined 16,381 shares changed hands on the counter on the BSE and NSE so far.