Shares of Dr Reddy's Labs climbed as much as 4.5 per cent to Rs 2,520, their highest since January 25. The stock posted its biggest intraday percentage gain in nearly one month, and was the top boost on Nifty Pharma index and top percentage gainer on NSE index.
The company’s active pharmaceutical ingredients plant at Srikakulam in Andhra Pradesh has got the establishment inspection report from the US Food and Drug Administration (FDA), indicating closure of audit.
The plant was one of the company’s main production facilities but the output was hit after the regulator had issued a warning over inadequate quality control practices in 2015.
Nearly 2 million shares changed hands, 1.3 times the 30-day average of 918,000.