Aarti Drugs Shares Surge by 11% After Tarapur Plant Receives USFDA Approval
Aarti Drugs get 11 per cent boost after receiving clearance from the USFDA to its Tarapur facility
The top 5 Aarti Drugs shares rose by more than 11 percent on December 24. The stock price finished the day at ₹ 471.10 grossing 11.12percent on the Bombay Stock Exchange (BSE). This surged came after the company stated that its Tarapur based API manufacturing facility has been commended with an EIR by the USFDA.
This kind of news stir up the investors to start buying the shares; consequently, the company’s market capitalization reached ₹4299 crore.
Details About the Tarapur Plant
The Manufacturing facility situated at Tarapur, Maharashtra has been granted the ‘Voluntary Action Indicated’ (VAI) status of USFDA after an inspection. An announcement by the company explained that the plant in question complies with the benchmark CGMP standard.
The inspection was made sometime in this year and has since been formally “terminated”. The category of VAI classification reveals that some changes were either observed or made but no severe violation was observed. It has been suggested that some corrective action should be taken, however, nothing dire or urgent needs to be done at the company.
Stock Performance
On a trailing monthly basis, the stock price has appreciated 4% in the last one month. Annual, though, they have registered a 4% drop in the stock. Still, this has been well appreciated by long-term investors who have been rewarded with a consistent 5year compounded return of 214 %.
Also read : Unimech Aerospace IPO: Anchor Investors Invest ₹150 Crore – Opens on December 23
Important Note for Investors
All the contents of this information are strictly not for commercial purposes. Share trading also is an exposed investment, and one should seek financial advisor before engaging in any share transactions. Aarti Drugs upcoming changes illustrate the fact that it follows international standards, but, potential investors should consider all these aspects perhaps prior to investing.
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