RPG Life Sciences shares surged as much as 17 per cent intraday on Wednesday after the company informed bourses that it has received good manufacturing practice (GMP) certificate from German authority for its formulation facility in Gujarat.
At 12.59 pm, shares of RPG Life Sciences were trading 13.92 per cent up at Rs 266. The scrip opened at Rs 253 and has touched a high and low of Rs 273.10 and Rs 246.60, respectively, in trade so far. Sensex was trading 0.15 per cent up at 24,920.20.
The GMP certificate has been received from the Bavarian Authority as per EUGMP standards for its formulation manufacturing facility at Ankleshwar. In a BSE filing, RPG Life said, “Bavarian Authority conducted audit of the manufacturing facility in early March 2016.”
CT Renganathan, managing director, RPG Life Sciences in a release said, “The certificate will help in boosting sales by expanding the company’s geographical presence in the European markets.”
For the quarter ended December 2015, the company reported a net profit of Rs 4.67 crore, up 84.58 per cent, against Rs 2.53 crore in the same quarter last year.
In the past one year, the share price of RPG Life soared nearly 40 per cent to Rs 233.50 on April 5, whereas BSE Sensex fell 12.70 per cent during the same period.