Granules India hit a new 52-week high today at Rs.1017. It has come off this high but remains firmly in the green, up 8.5% at Rs.985 levels. Volumes are up almost 3.5 times.

The market is used to US FDA always playing the party-pooper but this time around, after the FDA completed its Gagillapur facility inspection last week and the inspection was concluded with no observations. The inspection was triggered by one of the applicant’s ANDA filing. The market is thrilled that there is no FDA noose around the company!

A mid size pharma company, the company had ended Q3FY15 with a 13% (YoY) rise in total income at Rs.320 crore and net profit was up 8% at Rs.23 crore.