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10-Jul2017

Divi's Laboratories trades jubilantly on the bourses

Divi's Laboratories is currently trading at Rs. 743.60, up by 63.45 points or 9.33% from its previous closing of Rs. 680.15 on the BSE.

The scrip opened at Rs. 681.25 and has touched a high and low of Rs. 816.15 and Rs. 681.25 respectively. So far 3771499 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1380.00 on 16-Sep-2016 and a 52 week low of Rs. 533.10 on 29-May-2017.

Last one week high and low of the scrip stood at Rs. 816.15 and Rs. 648.15 respectively. The current market cap of the company is Rs. 20234.02 crore.

The promoters holding in the company stood at 52.07%, while institutions and non-institutions held 31.42% and 16.51% respectively.

The United States Food & Drug Administration (USFDA) is all set to lift the Import Alert 99-32 imposed on Divi's Laboratories Unit-II at Visakhapatnam. The USFDA issued an Import Alert under clauses 99-32 and 66-40 in March of 2017 and a warning letter in May of 2017 for the company's Vishakhapatnam facility.

The company filed detailed responses and given updates to the Form-483 and the warning letter within the stipulated time. Divi's Laboratories, along with its external consultants, specialists and subject matter experts, has taken up appropriate remediation measures to address the concerns raised by USFDA. The company awaits further action from USFDA in this regard. The above development illustrates the company's commitment to work closely with the USFDA and its efforts towards compliance to cGMP regulations.

Divi's Laboratories focussed on developing new processes for the production of Active Pharma Ingredients (APIs) & Intermediates. The company in a matter of short time expanded its breadth of operations to provide complete turnkey solutions to the domestic Indian pharmaceutical industry.


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