Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

Granules India share price jumps 5% on USFDA nod for antiviral medicine

Domestic brokerage firm Sharekhan by BNP Paribas has maintained a positive view on the stock with an upside potential of 12-15 percent while Anand Rathi Share has a buy recommendation with a target price of Rs 181.

February 05, 2020 / 10:56 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Share price of pharma company Granules India jumped 5 percent intraday on February 5 after the company received USFDA approval for Valganciclovir Hydrochloride for oral solution.

The US Food & Drug Administration (USFDA) approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, a wholly-owned foreign subsidiary of Granules India Limited for Valganciclovir Hydrochloride for Oral Solution, 50 mg/mL. It is bioequivalent to the reference listed drug product (RLD), Valcyte for Oral Solution, 50 mg/mL, of Roche Palo Alto LLC, the company said in a filing to the exchanges.

Valganciclovir Hydrochloride solution is an antiviral medication used to treat cytomegalovirus infections.

The company on February 4 said it has divested its entire stake in Granules-Biocause Pharmaceutical Co Limited, a joint venture company located in China. Last year, Granules India had intimated about the divestment of the entire stake of the JV company for a total consideration of RMB 109 million (around Rs 110.8 crore).

Brokerage firm Anand Rathi Share and Stock Brokers have a buy recommendation on Granules with a target price of Rs 181. It expects revenue and PAT CAGRs of nearly 17 percent and 25 percent, respectively, over FY19-22. At the current market price, the stock trades at 8 times FY22E EPS of Rs 18.

Domestic brokerage firm Sharekhan by BNP Paribas has maintained a positive view on the stock with an upside potential of 12-15 percent.

At 10:48 hrs, Granules India was quoting at Rs 153.35, up Rs 7.40, or 5.07 percent.It has touched an intraday high of Rs 154.50 and an intraday low of Rs 147.20.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​

Moneycontrol News
first published: Feb 5, 2020 10:56 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347