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Shilpa Medicare spurts after USFDA closes inspection of plants

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rose 9.52% to Rs 420 at 10:41 IST on after the US drug regulator closed its inspection of the company's plants at Raichur.

The announcement was made during trading hours today, 11 July 2018.

Meanwhile, the Sensex was up 57.59 points, or 0.16% to 36,297.21.

On the BSE, 45,000 shares were traded in the counter so far compared with average daily volumes of 1492 shares in the past two weeks. The stock had hit a high of Rs 433.90 and a low of Rs 392.10 so far during the day. The stock hit a 52-week high of Rs 708.80 on 11 July 2017. The stock hit a 52-week low of Rs 374.10 on 5 June 2018.

said it received EIR (establishment inspection report) from (USFDA) for both facilities located at Raichur in This inspection was carried out between 16 and 19 January 2018. The inspection has now been closed by USFDA.

On a consolidated basis, net profit of declined 19.89% to Rs 30.90 crore on 5.81% rise in net sales to Rs 234.46 crore in Q4 March 2018 over Q4 March 2017.

Shilpa Medicare is engaged in the business of of bulk drugs or (API) and intermediates.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 10:43 IST