The company will source ACTs from pre-qualified suppliers that have no pending regulatory issues.
Ipca Labs Ltd was lower by 13% at Rs. 487. The Global Fund, Geneva, Switzerland vide their letter dated April 04, 2016 (which was transmitted to the company vide their e-mail dated April 06, 2016), have informed the company that in the light of the warning letter issued to the company by the United States Federal Drug Regulatory Authority (US FDA) on January 29, 2016, they have re-assessed the situation and following a risk consideration exercise, will not allocate any volume of Artemisinin-based combination therapy (ACTs) to the company and that they will only source ACTs from other pre-qualified suppliers that have no outstanding issues with the regulators.
Ipca Labs Ltd was lower by 13% at Rs. 487. The Global Fund, Geneva, Switzerland vide their letter dated April 04, 2016 (which was transmitted to the company vide their e-mail dated April 06, 2016), have informed the company that in the light of the warning letter issued to the company by the United States Federal Drug Regulatory Authority (US FDA) on January 29, 2016, they have re-assessed the situation and following a risk consideration exercise, will not allocate any volume of Artemisinin-based combination therapy (ACTs) to the company and that they will only source ACTs from other pre-qualified suppliers that have no outstanding issues with the regulators.
The scrip opened at Rs. 525 and has touched a high and low of Rs. 534 and Rs. 491.45 respectively. So far 73044(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7048.9 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 888 on 19-Aug-2015 and a 52 week low of Rs. 525 on 16-Mar-2016. Last one week high and low of the scrip stood at Rs. 581.7 and Rs. 540 respectively.
The promoters holding in the company stood at 45.89 % while Institutions and Non-Institutions held 35.94 % and 18.17 % respectively.
The stock is currently trading below its 200 DMA.
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