Aarti Drugs Stock Price: The share of pharma sector company Aarti Drugs Ltd (NSE: AARTIDRUGS) first fell 3 % intraday on September 23 and later rose by 3 %. This company was recently notified of seven reports received from The United States Food and Drug Administration (USFDA).
Aarti Drugs Ltd stock opened in the red at Rs 521 on the BSE in the morning. After this, it fell by about 3 percent from the previous close price to a low of Rs 510.2. After this, it rose more than 3 % from the previous close price to a high of Rs 542.35.
At the close of trading, the stock settled at Rs 531.80 with a gain of more than 1 %. The stock price has risen 19.54% in the last 6 months.
The company had told the stock markets late last week that the USFDA had inspected the company’s API manufacturing facility located in Tarapur, Maharashtra between September 12-20, 2024.
After this, Aarti Drugs Ltd received 7 observations in Form 483 from the USFDA. Observations in the investigation mean that flaws have been found.
The Company Will Resolve The Issues In Collaboration With The USFDA
Aarti Drugs Ltd says that no observations are linked to the integrity of the data. These observations will not have any impact on Aarti Drugs’ financial health, operations, or other activities. The company also stated that it will collaborate with USFDA to address all issues.
The Share Buyback Of Rs 59.85 Crore Was Approved In August
In August this year, the board of Aarti Drugs Ltd approved the buyback of 6.65 lakh shares with a face value of Rs 10. This equals 0.72 % of the total amount paid up by the company’s equity shares.
The price for the buyback was fixed at Rs 900 per share. Thus, the size of share buyback was Rs 59.85 crore.
Quick Fact
| Company name | Aarti Drugs |
|---|---|
| Stock movement | Fell 3%, then rose 3% on Sept 23 |
| USFDA reports | 7 reports received |
| Inspection date | Sept 12-20, 2024 |
| Inspection location | Tarapur, Maharashtra |
| USFDA form | Form 483 issued |
| Observations | 7 flaws found |
| Data integrity | No flaws related to data integrity |
| Business Impact | No impact on financial health or operations |
| Resolution | Issues will be resolved with USFDA |
| Buyback approval | August 2024 |
| Buyback shares | 6.65 lakh shares |
| Buyback face value | ₹10 per share |
| Buyback price | ₹900 per share |
| Buyback percentage | 0.72% of total equity |
| Buyback size | ₹59.85 crore |
| Stock rise in 6 months | 19.54% |
| Possible target price | ₹900 per share |
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