SMS Pharma shares hit their new 52-week high on Monday after the company informed stock exchanges that it has received approval from the US Food and Drug Administration (USFDA) for its manufacturing facility located at Kandivalasa village in Vizianagaram district of Andhra Pradesh.
The share price of SMS Pharmaceuticals closed 7.32 per cent up at Rs 132. It also hits a new 52-week high of Rs 137.50 on Monday.
The USFDA had conducted inspection of the plant in the third week of April this year. SMS Pharmaceuticals is engaged in manufacturing of active pharmaceutical ingredients (API) and currently has four production facilities and two research centers in operation.
The promoters holding in the company stood at 64.97 per cent while institutions and non-institutions held 0.41 per cent and 34.65 per cent respectively.
Around 3.42 lakh shares of SMS Pharma exchanged hands on the BSE as compared with two-week average daily volume of 1.57 lakh shares.