Granules India jumps on getting EU GMP approval for Vizag

The shares of the pharmaceutical company, Granules India Limited, jumped 10.61 per cent on Wednesday after the company announced that its facility in Visakhapatnam (Andhra Pradesh) has received EU good manufacturing practice approval.

In an exchange filing made on April 7, the company informed that it has received European Commission (EU) good manufacturing practice (GMP) approval for Unit-V, high potent API and finished formulations manufacturing facility, which is located in Visakhapatnam, for a period of three years.

Adding to this, the company said that this Andhra Pradesh facility was audited in the month of January 2020 for good manufacturing practices of API as well as oral solid dosage.

Incorporated in the year 1991, Granules India Limited is a mid-cap company, operating in the pharmaceutical sector. The company produces finished dosages (FDs), pharmaceutical formulation intermediates (FPIs) as well as active pharmaceutical ingredients (APIs).

At the time of market closing on Wednesday, the stock of Granules India Limited was trading at Rs 172.50, up by 10.61 per cent against its previous close of Rs 155.95. Its 52-week is recorded at Rs 188.85 while, its 52-week low Rs 84.25 on BSE.