Orchid Pharma up by 5 per cent on winning EU GMP certification

Nikita Singh
/ Categories: Trending, Markets

The share price of Orchid Pharma soared by over 5 per cent to get locked at its upper circuit in Tuesday’s intraday trade as the company bagged the EU Good Manufacturing Practice certification.

 

The company received the EU GMP certification after inspection of its API manufacturing unit at SIDCO Industrial Estate at Alathur in Kancheepuram District, Tamil Nadu.

 

In Tuesday’s trade, the company stood at Rs. 7.44 per cent, up by 4.94 per cent on BSE. It also witnessed a spurt in volume by over 2.14 times against the average volume. The stock had hit its 52-week high of Rs. 30.55 per share on July 10, 2017 and its 52-week low of Rs. 6.71 on June 8, 2018 on BSE, respectively.

 

In the December quarter of FY18, the company had posted a drop in its revenue by over 30 per cent to Rs. 144.24 crore as against Rs. 209.34 crore in the September quarter of the fiscal year. The company also posted a net loss of Rs. 77.23 crore in the December quarter of FY18.

 

The company is under the corporate insolvency resolution process as per the order issued by the National Company Law Tribunal.

 

At 11:57 hours IST, the stock stood at its upper circuit Rs. 7.44 per share on BSE. Meanwhile, S&P BSE Sensex was trading at 35,667.90 level, up by 0.52 per cent and NSE Nifty50 was trading at 10,838.55 level, up by 0.48 per cent.


Rate this article:
3.5

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary29-Nov, 2023

Mindshare29-Nov, 2023

Multibaggers29-Nov, 2023

Bonus and Spilt Shares28-Nov, 2023

Multibaggers28-Nov, 2023

Knowledge

Fundamental27-Nov, 2023

Personal Finance27-Nov, 2023

Fundamental22-Nov, 2023

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Investment in securities market are subject to market risks.Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.