Laurus Labs advanced 2.68% to Rs 538.85 at 09:55 IST on BSE after the company received the EIR from USFDA for its unit located at Parawada, Visakhapatnam, for the inspection conducted in August 2017.
Meanwhile, the S&P BSE Sensex was down 71.04 points or 0.22% at 32,870.83. The S&P BSE Mid-Cap index was down 29.20 points or 0.18% at 16,465.52.
On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 21,730 shares in the past one quarter. The stock had hit a high of Rs 550.85 and low of Rs 535 so far during the day. The stock hit a record high of Rs 634 on 12 June 2017. The stock had hit a record low of Rs 453 on 26 December 2016.
The mid-cap company has equity capital of Rs 106.03 crore. Face value per share is Rs 10.Laurus Labs said that the company has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (US FDA) for its Unit 1 & 3, located at Parawada, Visakhapatnam, for the inspection conducted in August 2017.
Laurus Labs is a research and development (R&D) driven pharmaceutical company. The company is manufacturer of active pharmaceutical ingredients (APIs) for antiretrovirals (ARVs) and Hepatitis C, oncology and other therapeutic areas.