Indoco Remedies on Friday said it has received the EU GMP certification for its manufacturing site located in Himachal Pradesh. The company has received EU GMP certification from the competent health authority of Germany for its manufacturing site situated in Solan district of Himachal Pradesh.

Indoco Remedies gets EU-GMP certification for Himachal plant

The share touched a 52-week high of Rs 423.10 and a 52-week low of Rs 307 on 02 January, 2023 and 26 April, 2023, respectively.

Indoco Remedies gains on board nod to buy 85% in US generics marketer

The US FDA has issued four observations under Form 483 following the inspection of Indoco’s Goa facility back in February.

Indoco Remedies slumps 5% as US FDA slaps OAI status on Goa plant

Indoco Remedies Consolidated March 2023 Net Sales at Rs 428.16 crore, up 4.65% Y-o-Y

Indoco Remedies Consolidated December 2022 Net Sales at Rs 399.20 crore, up 11.51% Y-o-Y

Manaksia Aluminium Company Ltd, Kothari Products Ltd, Celebrity Fashions Ltd and Khaitan Chemicals & Fertilizers Ltd are among the other losers in the BSE’s ‘B’ group today, 24 January 2023.

Indoco Remedies Ltd leads losers in ‘B’ group

Indoco Remedies tumbled 8.60% to Rs 369.95 after the company’s net profit declined 15% to Rs 27.9 crore despite an 18% rise in net revenues to Rs 410.6 crore in Q3 FY23 over Q3 FY22.

Indoco Remedies slumps after dismal Q3 performance

Indoco Remedies Ltd clocked volume of 3.36 lakh shares by 14:14 IST on NSE, a 9 times surge over two-week average daily volume of 37294 shares

Volumes soar at Indoco Remedies Ltd counter

Indoco believes that this will not have an impact on the supplies and the existing revenues from this facility

Indoco Remedies shares gain even as USFDA inspection ends with 9 observations

Net Sales are expected to increase by 18.3 percent Y-o-Y (down 2.2 percent Q-o-Q) to Rs 4,236 crore, according to Nirmal Bang.

Indoco Remedies Q3 PAT seen up 46.1% YoY to Rs 482 cr: Nirmal Bang

Indoco Remedies shares rallied more than 7 percent to Rs 415.35 and formed long bullish candle on the daily charts with strong volumes. Overall it has seen a good run up after breaking out long downward sloping resistance trend line adjoining August 12, 2021 and August 3, 2022.

Trade Spotlight | What should you do with Gujarat State Petronet, Indoco Remedies, NLC India on Friday?

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Indoco Remedies Limited is engaged in the manufacture of pharmaceutical products. The Company primarily manufactures and markets Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs).

Indoco Remedies Ltd