India's Alkem Laboratories rises after USFDA issues inspection report

Alkem Laboratories

29/02/2024 09:22

** Shares of Alkem Laboratories  ALKE.NS  rise as much as
2.2% to 5099 rupees; last up 2%
    ** Drugmaker says U.S. FDA issued Establishment Inspection
Report for co's API manufacturing facility at Mandva and
inspection has been classified as Voluntary Action Indicated
(VAI)
    ** Stock set to snap fourth straight sessions of losses
    ** Stock has been above its 100-day SMA since late Oct, and
above its 200-day SMA since March, indicating bullish sentiment
    ** Avg rating of the 22 analysts is "hold" and median PT is
4,716 rupees, ~7% lower than current price - LSEG data
    ** Stock rose 74.5% in 2023, gaining most in a year since
its listing in 2015




 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))