Piramal Pharma share price jumps 2 percent in the opening trade on September 30 after the company received Establishment Inspection Report (EIR) for manufacturing facility located at Ahmedabad, India.
At 09:21am, Piramal Pharma was quoting at Rs 228.20, up Rs 5.10, or 2.29 percent, on the BSE.
In July 2024, the USFDA inspected the said facility with Zero Form - 483 observations and No Action Indicated (NAI) designation.
The received of said EIR marks formal closure of the inspection, company said.
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In its recent report, foreign research firm Jefferies increased the target price to Rs 260, projecting a 20 percent upside.
In Q1 FY25, Piramal Pharma narrowed its consolidated net loss to Rs 88.6 crore, down from Rs 98.6 crore in the same period last year. Revenue from operations saw a year-on-year growth of nearly 12 percent, reaching Rs 1,951 crore.
The share touched a 52-week high of Rs 244.10 and a 52-week low of Rs 87.55 on 11 September, 2024 and 26 October, 2023, respectively.
Currently, the stock is trading 8.6 percent below its 52-week high and 154.83 percent above its 52-week low.
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