Granules India shares up 5%

MUMBAI: Shares of drug maker Granules India today rose by nearly 5 per cent after the US drug regulator FDA inspected its manufacturing facility, even as the company said no deviation was found from good manufacturing norms.

The stock ended the day with a gain of 4.72 per cent at Rs 951.55 on BSE. During the day, it surged to its 52-week high by rising 11.92 per cent to Rs 1,017.10.

At NSE, shares of the company closed the day at Rs 951, up 4.48 per cent.

Drug maker Granules India yesterday said the US health regulator FDA has inspected its Gagillapur manufacturing facility near Hyderabad and did not find any deviation from good manufacturing norms.

"The United States Food and Drug Administration (USFDA) had inspected Gagillapur facility last week and the inspection concluded with no observations," Granules India said in a filing to BSE.

The company manufactures pharmaceutical formulation intermediates and finished dosages at its Gagillapur facility