Dr Reddy's stock ends 3 per cent up; market capitalization rises by Rs 1,019 crore
By PTI | Published: 28th September 2017 05:26 PM |
Last Updated: 28th September 2017 05:27 PM | A+A A- |
Image used for representational purpose. (Reuters)
NEW DELHI: Shares of Dr Reddy's Laboratories today ended with 3 per cent gains after the company said it has received an establishment inspection report (EIR) from the US health regulator for a unit at its Srikakulam formulations facility in Andhra Pradesh.
The stock rose by 2.62 per cent to settle at Rs 2,367.85 on BSE. During the day, it jumped 4.58 per cent to Rs 2,413.40.
On NSE, it gained 3 per cent to end at Rs 2,375.40.
The company's market valuation went up by Rs 1,019.72 crore to Rs 39,277.72 crore.
In terms of equity volume, 1.37 lakh shares of the company were traded on BSE and over 28 lakh shares changed hands at NSE during the day.
"With regard to the audit of the company's formulation Srikakulam Plant (SEZ) Unit I, Andhra Pradesh...the company has received an EIR from the USFDA, for the above-referred facility," Dr Reddy's said in a regulatory filing.
The US Food and Drug Administration (USFDA) issues an EIR to the establishment that is the subject of an FDA or FDA-contracted inspection when the agency decides to close the inspection.
