It is indeed after a long time that Orchid Chemicals is in the news and that too, positive news. The stock, which had closed yesterday at Rs.71.85, opened today at Rs.75.30, hit an intra day high at Rs.77.65 and currently remains around Rs.77 levels, up 6%.

The stock price has spurted up, reacting to its announcement which came in yesterday late evening that it has received US FDA approval for its abbreviated new drug application for Eszopiclone tablets, 1 mg, 2 mg, and 3 mg strengths.

The market is happy with this news as nowadays, any affirmative nod from the US FDA has become rare and a reason for celebration.