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Last Updated : May 22, 2019 09:45 AM IST | Source: Moneycontrol.com

Alkali Metals rises 8% on EIR from USFDA; board may consider dividend on May 27

A meeting of the board of directors of the company will be held on May 27 to consider and approve the audited financial results of the company for the quarter and financial year ended March 31, 2019.

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Shares of Alkali Metals rose 8.4 percent in the early trade on Wednesday after company received EIR from USFDA.

The company received an Establishment Inspection Report (EIR) from United States Food and Drug Administration (US FDA) for its Visakhapatnam Unit in Andhra Pradesh, as per BSE filing.

The Visakhapatnam unit manufactures active pharmaceutical ingredients (APls) and other chemical intermediates.

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The EIR from USFDA indicates closure of the inspection and that the unit is in acceptable state of compliance of current good manufacturing practice (CGMP).

A meeting of the board of directors of the company will be held on May 27 to consider and approve the audited financial results of the company for the quarter and financial year ended March 31, 2019.

The board may consider and recommend dividend, if any, for the financial year ended March 31, 2019.

At 09:23 hrs Alkali Metals was quoting at Rs 46.15, up Rs 2.85, or 6.58 percent on the BSE.

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First Published on May 22, 2019 09:31 am
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