Sharon Bio-Medicine hits 20% upper circuit

India Infoline News Service | Mumbai | September 20, 2016, 13:15 IST

The scrip opened at Rs. 8.5 and has touched a high and low of Rs. 10.16 and Rs. 8.35 respectively.

Sharon Bio-Medicine Ltd is currently trading at Rs. 10.16, up by Rs. 1.69 or 19.95% from its previous closing of Rs. 8.47 on the BSE. The company clarified on the news flashed on ET NOW on September 20, 2016 stating "USFDA approves Sharon Bio's Taloja API plant".

Sharon Bio-Medicine said that it has received the EIR from USFDA conducted during period ranging from June 29, 2015 to July 7, 2015 at API plant located at Raigad in Maharashtra. The API plant is approved by USFDA. "It may be noted the payment for GDUFA Fees is pending and therefore supply to the United States of America cannot be done unless pending arrears are cleared", the company said in a BSE filing.

The scrip opened at Rs. 8.5 and has touched a high and low of Rs. 10.16 and Rs. 8.35 respectively. So far 1653793 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 100.74 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 32.55 on 16-Dec-2015 and a 52 week low of Rs. 8.25 on 16-Sep-2016. Last one week high and low of the scrip stood at Rs. 8.92 and Rs. 8.25 respectively.

The promoters holding in the company stood at 52.26 % while Institutions and Non-Institutions held 5.03 % and 42.71 % respectively. 

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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