Dr Reddy’s Laboratories shares slip 3% after USFDA issues Form 483 for Hyderabad facility
Dr Reddy’s Laboratories shares slipped 3.21% to Rs 5212.10 on Monday against the previous close of Rs 5885.55 on BSE.
- Oct 30, 2023,
- Updated Oct 30, 2023 10:20 AM IST
Shares of pharma firm Dr Reddy’s Laboratories Ltd slipped over 3% today after the United States Food & Drug Administration (USFDA) issued a Form 483 with ten observations with respect to manufacturing facility (FTO-3) in Bachupally, Hyderabad.
Dr Reddy’s Laboratories shares slipped 3.21% to Rs 5212.10 on Monday against the previous close of Rs 5885.55 on BSE. Dr Reddy’s Laboratories stock has gained 20% in a year and risen 26.23 per cent in 2023.
Total 5203 shares of the firm changed hands amounting to a turnover of Rs 2.77 crore on BSE today. The market cap of the firm fell to Rs 89,240 crore on BSE.
The stock touched a 52-week high of Rs 5986.20 on August 24, 2023 and a 52-week low of Rs 4176.85 on January 25, 2023.
Dr Reddy’s Laboratories stock has a one-year beta of 0.5, indicating low volatility during the period.
In terms of technicals, the relative strength index (RSI) of the firm stood at 40.7, signaling it's trading in the neither in the overbought nor in the oversold zone.
Dr Reddy’s Laboratories shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.
“United States Food & Drug Administration (USFDA) completed a routine cGMP inspection at our formulations manufacturing facility (FTO-3) in Bachupally, Hyderabad. The inspection was conducted from October 19, 2023 to October 27, 2023. We have been issued a Form 483 with ten observations, which we will address within the stipulated timeline,” said the pharma firm in a communication to bourses.
Also read: Multibagger railway stock hits upper circuit on 241% rise in Q2 profit
Shares of pharma firm Dr Reddy’s Laboratories Ltd slipped over 3% today after the United States Food & Drug Administration (USFDA) issued a Form 483 with ten observations with respect to manufacturing facility (FTO-3) in Bachupally, Hyderabad.
Dr Reddy’s Laboratories shares slipped 3.21% to Rs 5212.10 on Monday against the previous close of Rs 5885.55 on BSE. Dr Reddy’s Laboratories stock has gained 20% in a year and risen 26.23 per cent in 2023.
Total 5203 shares of the firm changed hands amounting to a turnover of Rs 2.77 crore on BSE today. The market cap of the firm fell to Rs 89,240 crore on BSE.
The stock touched a 52-week high of Rs 5986.20 on August 24, 2023 and a 52-week low of Rs 4176.85 on January 25, 2023.
Dr Reddy’s Laboratories stock has a one-year beta of 0.5, indicating low volatility during the period.
In terms of technicals, the relative strength index (RSI) of the firm stood at 40.7, signaling it's trading in the neither in the overbought nor in the oversold zone.
Dr Reddy’s Laboratories shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.
“United States Food & Drug Administration (USFDA) completed a routine cGMP inspection at our formulations manufacturing facility (FTO-3) in Bachupally, Hyderabad. The inspection was conducted from October 19, 2023 to October 27, 2023. We have been issued a Form 483 with ten observations, which we will address within the stipulated timeline,” said the pharma firm in a communication to bourses.
Also read: Multibagger railway stock hits upper circuit on 241% rise in Q2 profit