Stock of this pharmaceutical company surged heavily by 9.60 per cent today!

Company’s shares jumped after receiving approval from Brazil’s National Health Surveillance Agency for its injectable formulations manufacturing units.

The scrip of Kwality Pharmaceuticals opened on Thursday at Rs 398.00 and touched its day high at Rs 406.55 on BSE and after a huge jump by 9.60 per cent, it closed at Rs 405.10 a piece on BSE.

Management of the company on Wednesday evening has updated that, the company received approval from Brazil’s Health Surveillance Agency ANVISA for its manufacturing unit in Amritsar and Himachal Pradesh that manufactures injectable formulations.

With this approval, the company got access to register and market its products at large and that would also result in a growing Brazilian Pharmaceutical market as well. The ANVISA-approved facility is capable enough to manufacture liquid injections

Kwality Pharmaceuticals is a pharmaceutical formation company. The company provides a wide variety of finished pharmaceutical formulations in dosage forms such as tablets, capsules, syrup, dry syrup, injections, etc. Its portfolio includes more than 3,000 compounds in more than 25 therapeutic areas. There are 600 products available in total, and another 300 products are in the pipeline but have not yet been registered.

Pharmaceutical formulations include liquid orals, dry syrups, tablets, capsules, sterile powder for injections, small-volume injectables, ointments, external preparations, and oral rehydration solutions are also produced and exported by the company.

This BSE group “B” stock touched its 52-week High at Rs 961.50 whereas the 52-week low stood at Rs 265.60. Presently, the promoters are holding a 54.45 per cent stake in the company, while Non-Institutions are holding a 45.55 per cent stake in the company.