IOL Chemicals & Pharmaceuticals was locked in the 10% upper circuit at Rs.66.30 within minutes of opening for trade today morning.

The market is thrilled with the news that it has received EUGMP certification from National Institute of Pharmacy and Nutrition, Hungary, for its products, confirming compliance with principles of Goods Manufacturing Practices as provided by EU legislation.

This certification is good for the company as it will help its expansion into the European markets.

It’s a very small cap company with its net profit for Q3FY17 at less than Rs,.12 lakh, operating on NPMs which are less than 1%. Promoters stake is low at 39.92%.