Caplin Point

Caplin Point is a pharma company catering to Latin America and Africa and the stock is in the limelight today after a very long time.

The company announced today morning that it has received the Establishment Inspection Report (EIR) from USFDA (United States Food and Drug Administration) for inspection carried out during 21 October 2016 to 27 October 2016, at its sterile injectable plant at Gummidopoondi, Tamil Nadu (TN).

The company has stated that this EIR is a major milestone and will pave the way for the company's entry into the largest pharma market in the world.

The company had done well in Q3FY17 with a 30% (YoY) rise in total income and net profit rose 48% at Rs.24 crore. It will be declaring its Q4 and FY17 results on 10th May.

The stock price rose almost 6.5% today at Rs.411.95 and has now settled down at Rs.399 levels. Its 52-week high is at Rs.459.70