NEW DELHI: Shares of domestic pharma major Dr Reddy's Laboratories jumped 3 per cent in early trade on Monday.
Shares of the company got traction after reports that the audit of drugmaker's Formulations Srikakulum Plant (SEZ) Unit II, Andhra Pradesh by the USFDA, has been completed with zero observations.
"The audit of our Formulations Srikakulum Plant (SEZ) Unit II, Andhra Pradesh by the US FDA, has been completed today with zero observations," the company said in a BSE filing post market hours on Friday.
Shares of the company opened at Rs 2,540.10 on BSE and jumped 3 per cent to Rs 2,546.80 soon. However, the scrip cooled off and was trading 1.28 per cent up at Rs 2502.60 around 9:45 am. The benchmark Sensex was 0.25 per cent up at 35,547 around that time.
Meanwhile, the market was trading in the positive territory while awaiting the outcome of RBI board meet today.
Heavyweights
HDFC Bank,
Reliance Industries,
Infosys,
YES Bank and Mahindra & Mahindra were trading with decent gains, keeping the equity benchmarks in the green zone.