Shares of Neuland Laboratories are trading with gains of 6% on Friday, extending its weekly gains to over 8%.
The company informed the exchanges that the USFDA inspection of its Bonathapally unit in Hyderabad was completed successfully with no observations issued under form 483. Neuland made this announcement in an exchange filing
Neuland's Hynderbad unit was inspected by the US drug regulator from March 18 to March 22 this year.
The company's Bonathapally unit is an API manufacturing unit with an overall capacity of 233 KL. The facility also boasts of an hydrogenation reaction volume of 7.4 KL and a solvent recovery system of 100 KL per day.
Based on the December quarter shareholding pattern, domestic Mutual Funds own a 1.83% stake in the company, while Alternate Investment Funds have a 4.19% stake. Among these, Malabar Value Fund has a 1.63% stake.
Malabar India Fund has a 9.95% stake as well.
Among prominent public shareholders include Kedia Securities, with a 1.25% stake and Mukul Agrawal, who has a 3.12% stake.
Shares of Neuland Laboratories are trading 6% higher at ₹6,392. The stock has gained nearly 300% over the last 12 months.
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