Granules India hits record high; zooms 92 per cent in 3 months

Granules India Limited today announced that United States Food & Drug Administration (USFDA) has approved its abbreviated new drug application (ANDA) for Naproxen Sodium and Diphenhydramine Hydrochloride tablets, 220 mg/25 mg (OTC), which is a generic equivalent of Aleve PM Tablets, 220 mg/25 mg, of Bayer HealthCare LLC.

Naproxen Sodium and Diphenhydramine Hydrochloride tablets are used for the relief of occasional sleeplessness associated with minor aches & pains and also, help you to fall asleep.

Granules India is a growing pharmaceutical manufacturing company, which produces finished dosages (FDs), pharmaceutical formulation intermediates (PFIs), and active pharmaceutical ingredients (APIs).

The stock has given a return of 92.16 per cent in the last three months.

On Friday, the stock jumped more than 9.54 per cent and made a new 52-week high of Rs 395 on BSE. The stock of Granules India has recovered by 238.04 per cent from its sharp decline in March 2020. On a YTD basis, the stock has gained by 203.90 per cent.

At 1.46 pm today, the share of Granules India was trading at Rs 374.65 on BSE, up by 3.90 per cent. According to BSE data, the stock traded at a P/E multiple of 17.49 and a price-to-book ratio of 4.92.