The stock jumped over 4% after receiving in-principle approval from DRDO for anti-Covid drug 2-DG. Currently, the stock trading at Rs572.40 up by Rs21.6 or 3.92% from its previous closing of Rs550.80 on the BSE. The scrip opened at Rs554 and has touched a high and low of Rs580 and Rs545.90 respectively.
In the regulatory filing, the company said that the 2DG has been given emergency approval by the Drug Controller General of India (DCGI) for COVID-19 patients in the country.
Shilpa Medicare Limited is only the second company in India to have entered into a similar arrangement with DRDO, the company stated.
Shilpa has been continuously striving to contribute towards the fight against COVID-19 and this is yet another step by Shilpa after its recently announced arrangement for manufacture and supply of Sputnik V vaccine, it added.