Shilpa Medicare receives AGES certification for three units

Shilpa Medicare gets EU-GMP certificate from the Austrian agencies AGES for its three facilities. The two API plants is located at Raichur, Karnataka and formulation facility is located at Jadcherla, Telangana. 

The Austrian drug regulator, AGES carried out the audit of the two plants between January 16 to 24, 2018 and formulation facility between January 25 to 31, 2018. 

Following the development, the stock surged by 4 per cent on the bourses in Monday’s trade. The stock hit an intraday high of Rs. 471 per share and an intraday low of Rs. 460 per share on BSE on Monday.  

On Monday at 12:40 hours, the shares of Shilpa Medicare Limited were quoting at Rs. 467 per share, up by Rs. 14.35 or 3.17 per cent. Meanwhile, S&P BSE was trading at 34,548.31 up by Rs 129.96 or 0.38 per cent and NSE Nifty50 was trading at 10,595.65 level, higher by 0.30 per cent.  

The company had posted nearly 11 per cent decline in its net profit to Rs. 24.18 crore for the third quarter of the fiscal year 2018 on a year on year basis.