Hot Pursuit     05-Jul-10
Orchid Chemicals gains on US nod for a generic drug
Orchid Chemicals & Pharmaceuticals rose 2% to Rs 173.35 at 12:41 IST on BSE, after the company received a tentative approval from the US Food and Drug Administration to market Gemifloxacin Mesylate tablets in 320 milligram strength.

The company made this announcement during trading hours today, 5 July 2010.

Meanwhile, the BSE Sensex was up 28.09 points, or 0.16% to 17,489.04.

On BSE, 1.68 lakh shares were traded in the counter as against an average daily volume of 1.65 lakh shares in the past one quarter.

The stock hit a high of Rs 174.10 and a low of Rs 169.75 so far during the day.

The company's equity capital is Rs 70.44 crore. Face value per share is Rs 10.

Orchid Chemicals & Pharmaceuticals' net profit soared 1378.9% to Rs 391.16 crore on 19.1% increase in net sales to Rs 285.69 crore in Q4 March 2010 over Q4 March 2009.

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