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Shilpa Medicare shares surge nearly 12 pc

Press Trust of India  |  New Delhi 

Shares of Shilpa today rose sharply by nearly 12 per cent after the company said the US health regulator has issued an establishment inspection report (EIR) for its facilities in

The company's stock surged 10.10 per cent to settle at Rs 422.25 on the Intra-day, it zoomed 13.14 per cent to Rs 433.90.

On the NSE, shares of the company soared 11.53 per cent to close at Rs 425.55.

The company's market valuation surged Rs 316.47 crore to Rs 3,442.47 crore.

"We are in receipt of (establishment inspection report) from the (USFDA) to our both located at Raichur, Karnataka," Shilpa said in a filing.

This inspection was carried out between January 16-19, 2018. The inspection has now been closed by the USFDA, it added.

USFDA gives on closure of inspection of an establishment that is the subject of an FDA or FDA-contracted inspection.

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

First Published: Wed, July 11 2018. 16:55 IST