Granules India remains in green

Granules India remains in the green in today’s current lackluster market. The stock which had closed yesterday at Rs.407.40, opened higher today at Rs.414.85 and went on to hit an intra day high at Rs.418.80. It presently remains around the same high levels. Its 52-week high is at Rs.435.70.

The stock is in the green following its following its announcement yesterday that its paracetamol API unit has completed the US FDA inspection, without any untoward observation.

The company four API units, over the past 12 months have passed the US FDA inspection and all its facilities, including its finished dosage and PFI facility have received approval  from all leading regulatory authorities including US FDA, EDQM, Health Canada and Korean FDA.

In recent times, most of the big wig pharma companies have been pulled up by the US FDA and this inspection without any observation is something rare and thus the market is celebrating this, with many brokerage houses and analysts recalibrating their call on the stock.