Natco Pharma is in the limelight today, rising over 3.5% to hit an intraday high at Rs.660; it remains closer to its 52-week low at Rs.600.10 than its high of Rs.942.15.
The stock price rose after the it said that it received Order from High Court of Delhi stating that Natco is allowed to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process.
This is the first company in India to have received its registration approval given by Central Insecticide Board & Registration Committee (CIB&RC) for indigenous manufacture of CTPR Technical.
CTPR technical is formulated into broad spectrum insecticides used across wide range of crops for pest management.
Natco estimates the current market size of CTPR containing products in India to be over Rs.2000 crore. The company plans to launch its products very shortly.