Morepen Labs rises 17%

Morepen Labs is currently the top gainer on the BSE; the stock price rose almost 17% to hit an intraday high at Rs.27.80, not too far from its 20% UC of the day at Rs.29.31. Volumes have jumped up more than 4.5x.

The market has given it a thumbs up following the US FDA’s inspection of its API manufacturing facility at Baddi, Himachal Pradesh.

The good news - facility has been cleared by USFDA on 24th March 2023 without any adverse observation (NIL 483).

In today’s time, where the FDA seems to be dishing out more warnings and observations, this NIL observations does come as a pleasant surprise.