had received advise from the EU Health authorities to test for the presence of NDMA in metformin manufactured by the company.
Granules had done a thorough risk assessment based on the route of synthesis used by it and had come to the conclusion that there is no possibility of the presence of NDMA in its product. This was informed to the EU authorities.
However, the product is under analytical testing and preliminary results have shown that the impurity is absent. Further, testing is ongoing and Granules will keep the EU authority updated.
Granules India Ltd is currently trading at Rs123.50 down by Rs3.4 or 2.68% from its previous closing of Rs126.90 on the BSE.
The scrip opened at Rs127.55 and has touched a high and low of Rs130 and Rs121 respectively. So far 13,57,541 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,226.40cr.