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Mangalam Drugs soars over 8% on WHO audit at its unit

The stock has seen strong movements, with a rise nearly 12 percent in the past one month. In the past three days, it soared over 9.3 percent.

February 20, 2017 / 11:58 AM IST
 
 
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Shares of Mangalam Drugs and Organics was up over 8.7 percent intraday on Monday as investors retained buying post WHO’s audit."Our facility at Unit-2 was recently audited by WHO-Geneva and we have been issued a few procedural observations. Further, we shall respond to the same within the stipulated time after the receipt of the audit report," the company said in a filing to the exchanges. The company believes that the audit was successful.The company posted a net profit of Rs 6.2 crore for the December quarter against Rs 3.8 crore during the same period last year. Meanwhile, total income from operations was at Rs 80.58 crore against Rs 84.36 crore year ago. The stock has seen strong movements, with a rise nearly 12 percent in the past one month. In the past three days, it soared over 9.3 percent.At 11:22 hours IST, Mangalam Drugs & Organics was quoting at Rs 162.60, up Rs 10.90, or 7.19 percent on the BSE. It touched an intraday high of Rs 164.90 and an intraday low of Rs 156.50 (With inputs from Reuters)

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