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Shares of Indoco Remedies rallied nearly 16 percent intraday on April 13 after the company delivered the first shipment of Paracetamol
tablets to the UK.
The entire pharma sector has been gaining more traction than other sectors since the government allowed exports of anti-malarial
and other drugs that are used in the treatment of COVID-19 patients.
Indoco itself surged more than 83 percent in nearly three weeks. It was quoting at Rs 260.25,
up Rs 14.10 or 5.73 percent on the BSE, at 1307 hours IST.
The company informed exchanges that it has been part of the great initiative by the Indian government to export Paracetamol
tablets to the UK in its fight against COVID-19.
"The first shipment of 11.70 lakh Paracetamol tablets to the UK was airlifted on April 12 from Goa airport,"
the company said in its BSE filing.
Paracetamol tablets are used for the treatment of pain and fever.
The permission granted by the Indian Government is for a total air shipment of 4.48 crore tablets.
"The remaining quantity is ready for shipment and will be airlifted depending on availability of flights," it said.
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