Indoco Remedies Limited, a leading pharmaceutical company, in a BSE filing on Thursday, 11 May 2017 has a nnounced that it has received approval from the Regulatory Body, UK-MHRA.

Indoco Remedies (Indoco) is a Mumbai-based pharmaceutical company that focuses on formulations, with some presence in contract manufacturing and research. It also trades some active pharma ingredients (APIs) manufactured by a group company. Currently, Indoco has a presence in the therapeutic segments including anti-infective, anti-cold preparation, ophthalmic, anti-spasmodic, stomatology, anti-inflammatory and anti-fungal.

The stock of Indoco Remedies Limited is trading down by over 1% on Thursday on the BSE.

The stock hit an intraday high of Rs 250.70 and a low of Rs 225.10.

Stock view -

Indoco Remedies Ltd is currently trading at Rs 225.15, down by Rs 3.15 or 1.38% from its previous closing of Rs 228.3 on the BSE.

The scrip opened at Rs 229.05 and has touched a high and low of Rs 250.7 and Rs 225.05 respectively. So far 564515(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2103.79 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 360.35 on 07-Sep-2016 and a 52 week low of Rs 209 on 03-Apr-2017. Last one week high and low of the scrip stood at Rs 230 and Rs 219 respectively.

The promoters holding in the company stood at 59.11% while Institutions and Non-Institutions held 21.26% and 19.63% respectively.

The stock is currently trading below its 200 DMA.