India's Morepen jumps as FDA clears API manufacturing facility

Morepen Laboratories

27/03/2023 05:53

** Shares of Morepen Laboratories  MORL.NS  up ~13% in heavy
volume, set for its best one-day jump in 3 months, if gain holds
    ** Stock last at 27.60 rupees, reclaiming its 50-day moving
avg for first time since mid-Jan
    ** Morepen says US FDA clears its API manufacturing facility
in Himachal Pradesh without any adverse observation    
    ** Trading vol of ~10 mln shares as of 10:16 a.m. IST is 7x
the 30-day avg, in stock's busiest day since Jan 4
    ** Session's gains help stock cut YTD losses to ~28%

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))