Shares of pharma player Orchid Pharma are riding the bull on D Street, surging over 5% at Rs 36.25 per share. The stock opened its trade at Rs 34.50 per share, touched a low of Rs 34.25 and a high of Rs 39.70 per share.
The shares witnessed a surge as the company has received Establishment Inspection Report (EIR) from USFDA based on successful inspection of the formulation manufacturing facility at Tamil Nadu, India.
The facility was inspected by USFDA in December 2016.
Orchid Pharma Limited, formerly Orchid Chemicals & Pharmaceuticals Limited, is an India-based pharmaceutical company. The Company is involved in the development, manufacture and marketing of various bulk actives, formulations and nutraceuticals .
At 02:55 IST, there are 688 advances, 963 declines and 302 unchanged stocks in NSE, indicating a negative undertone in the market.