Shares of Granules India witnessed a decline of on Monday, trading at ₹563 after opening at ₹614.30. The stock’s downward movement comes in response to the latest announcement concerning the company’s Gagillapur facility in Hyderabad.
The US FDA inspection of the facility, conducted earlier this year, resulted in the issuance of Form 483 with six observations. Recently, the regulatory body classified the inspection status as “Official Action Indicated” (OAI), suggesting that further corrective measures are required before the facility can fully comply with US FDA expectations.
Granules India, in its statement, noted that it has already responded to all the observations and is undertaking a comprehensive evaluation of the facility. The company is working closely with external experts and the US FDA to resolve the issues and bring the facility into compliance within a short timeframe.
As of today, Granules India has a market capitalization of ₹140.78 billion and an average daily trading volume of 2.17 million shares. Despite its recent challenges, the stock’s year range reflects substantial investor activity, with prices oscillating between ₹365.45 and ₹721.00.
- Day High: ₹628
- Day Low: ₹563
- Current Price: ₹563
- Fall from Day High: 10.35%
- Fall from Previous Close (₹595.05): 5.38%
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