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      Ajanta Pharma rises after USFDA clears Dahej facility

      MoM Team / Mumbai, Apr 10, 2017 11:42 AM IST

        Ajanta Pharma rises after USFDA clears Dahej facility

        Ajanta Pharma rose 1.4 percent to Rs 1,744 on BSE as no observations were issued during US drug regulator's check at the company's Dahej facility.

        The announcement was made during trading hours today, 10 April 2017.

        Meanwhile, the S&P BSE Sensex was up 19.42 points, or 0.07 percent to 29,726.03.

        On the BSE, 26,000 shares were traded in the counter so far, compared with average daily volumes of 25,063 shares in the past one quarter.

        The stock had hit a high of Rs 1,818 and a low of Rs 1,718.50 so far during the day. The stock hit a record high of Rs 2,150 on 28 October 2016. The stock hit a 52-week low of Rs 1,400.05 on 24 June 2016.

        The stock had underperformed the market over the past one month till 7 April 2017, rising 0.45 percent compared with 2.69 percent rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.14 percent as against Sensex's 11.01 percent rise.

        The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.

        Ajanta Pharma announced that its formulation facility at Dahej was inspected by US Food and Drug Administration (USFDA) from 3rd to 7th April 2017. At the end of the inspection, no Form 483 was issued to the company.

        An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

        On a consolidated basis, net profit of Ajanta Pharma rose 25.15 percent to Rs 142.60 crore on 9.68 percent rise in net sales to Rs 515.02 crore in Q3 December 2016 over Q3 December 2015.

        Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages.


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      Source: Capital Market



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