Granules India set for worst day in almost 4-1/2 yrs as investors seek clarity on FDA observations

Granules India

12/09/2024 10:49

** Shares of Granules India  GRAN.NS  fall as much as 16.9%
to 562.10 rupees, mark sharpest intraday pct loss since March
23, 2020
    ** Pharmaceutical manufacturing co says several investors
have sought clarification from co on U.S. FDA's observations on
its Gagillapur facility
    ** Adds, it will work with FDA to address issues raised in
the observations
    ** On Saturday, FDA inspection at this facility concluded
with six observations        
    ** Stock is witnessing its most active trading session since
2005 listing, with more than 35 mln shares change hands, 12.8x
of 30-day avg
    ** Stock last down 16.6%, cutting YTD gains to 39.2%




 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))