Granules India said the company has initiated necessary steps to address the observations of the inspection agency and will submit its response with a corrective and preventive action plan within the stipulated time.
The company will also be requesting the Infarmed for re-inspection of the Gagillapur facility at the earliest. The company is committed to comply with all the required regulatory requirements and follow the best practices of the industry. The company acknowledges the observations as area of continuous improvements,” said Granules India in a BSE filing on January 6, 2017.
At 09:26 am; the stock was down 10.5% at Rs 100.50 on the BSE. The trading volumes on the counter surged more than three-fold with a combined 2.37 million shares changed hands in first 11 minutes of trade on the BSE and NSE. It was trading close to its 52-week low of Rs 91.45 touched on November 9, 2016 in intra-day trade.