Moneycontrol Bureau
Hyderabad-based pharma company Granules India shares fell nearly 4 percent intraday Tuesday after the US health regulator completed inspection of Vizag facility with seven observations.
The joint venture company said it would respond to these observations within the stipulated time period.
Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem NV, is located at Vizag, Andhra Pradesh.
This facility currently manufactures API intermediates.
Granules has been accounting only its share of profit or loss from this joint venture company as per new accounting standards with effect from April 2016.
At 10:38 hours IST, the stock was quoting at Rs 112.30, down Rs 3.15, or 2.73 percent on the BSE.
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