Indoco Remedies is literally on fire today. The stock has hit a new high at Rs.197, with volumes surging over 33.5 times. It currently remains strongly in the green, up almost 19% at ‘almost’ 196 levels.

The stock is in the limelight today after the company announced that the US FDA approved the company's sterile and solid dosage manufacturing plants located in Goa, paving the way for its ophthalmic product launches in the United States. Post this approval, it is estimated that sale from this plant will contribute 30% to the company’s FY16 operating profit.