Granules India gains after US FDA inspection shows zero observations

Granules India

08/11/2024 06:46

** Shares of Granules India  GRAN.NS  climb as much as 3.2%
to 590.5 rupees but trim gains to trade largely flat amid drop
in Nifty 50  .NSEI , which is down 0.4%  .BO  
    ** Pharma co said a U.S. FDA inspection concluded at its
unit's facility in Andhra Pradesh state with zero observations
    ** Facility secured an establishment inspection report with
"No Action Indicated" status 
    ** Stock up 44% YTD, its biggest annual gain since 2020
    ** Peers Aurobindo Pharma  ARBN.NS  and Alembic Pharma
 ALEM.NS  up ~23% and 45% so far this year 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))