Natco Pharma rose 1.24% to Rs 641.85 at 12:40 IST on BSE after the company received a successful Establishment Inspection Report from the US drug regulator for the inspection conducted at its drug manufacturing facility.
The announcement was made during market hours today, 16 August 2016.Meanwhile, the BSE Sensex was down 148.44 points, or 0.53%, to 28,003.96.
On BSE, so far 31,164 shares were traded in the counter, compared with average daily volume of 68,391 shares in the past one quarter. The stock hit high of Rs 654, which is also a record high for the stock. The stock hit a low of Rs 633 so far during the day. The stock hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past one month till 12 August 2016, rising 6.58% compared with 1.24% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 39.43% as against Sensex's 9.16% rise.
The large-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.
Natco Pharma said that it has received a successful Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted at its drug manufacturing facility in Kothur Village, Mahaboob Nagar District of Telangana during the period 29 February to 7 March 2016. The Kothur facility predominantly caters to regulated international markets, including USA.
Establishment Inspection Report is given to an establishment after the completion of the inspection by the USFDA detailing any problems found.
Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.
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