Indoco Remedies falls on getting warning letter for Goa facility
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Indoco Remedies is currently trading at Rs. 338.90, down by 1.70 points or 0.50% from its previous closing of Rs. 340.60 on the BSE.
The scrip opened at Rs. 335.05 and has touched a high and low of Rs. 343.40 and Rs. 312.00 respectively. So far 28318 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 416.95 on 01-Jan-2024 and a 52 week low of Rs. 286.50 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 346.60 and Rs. 312.00 respectively. The current market cap of the company is Rs. 3134.19 crore.
The promoters holding in the company stood at 58.75%, while Institutions and Non-Institutions held 19.94% and 21.30% respectively.
Indoco Remedies has received a warning letter from the US Food and Drug Administration (USFDA) for Plant II & Plant III facility located at Verna Industrial Estate Area, Verna, Goa, India (Facility) on December 17, 2024. This facility was inspected from July 16, 2024 to July 26, 2024. The Company remains committed to work closely with the USFDA and continues to enhance its compliance on an ongoing basis.
Earlier, the company had received Official Action Indicated (OAI) status from the USFDA for said facility.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.
