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Dr Reddy's Labs turns volatile; stock rebounds 32% from day's low on NSE
Posted on 15th February 2019
Shares of Dr Reddy’s Laboratories turned volatile falling 30 per cent to Rs 1,873 apiece, also its 52-week low on the National Stock Exchange (NSE), after media reported Jefferies, in its research note, said that the Form 483 issued by US Food and Drug Administration (US FDA) to drug firm’s Bachupally plant contains four repeat observations out of the total 11 observations.

At 11:14 am; Dr Reddy’s Laboratories was trading 7 per cent lower at Rs 2,474, recovering 32 per cent from its early morning low on the back of heavy volumes on the NSE.

On the BSE, the stock was quoting at Rs 2,480, bouncing back 20 per cent from its intra-day low of Rs 2,065. The trading volumes on the counter jumped three-fold with a combined 4.11 million equity shares changed hands on the NSE and BSE so far.

On February 8, 2019, Dr Reddy’s Laboratories informed the stock exchanges that the US Food and Drug Administration (USFDA) has issued form 483 with 11 observations for its manufacturing-3 facility at Bachupally in Hyderabad. The company said it will address them comprehensively within the stipulated timeline.

Analysts at the firm wrote that, among the observations issued, two of them are related to lack of space as well as drains. It has termed one of the observations relating to facility structure being negative. Going forward, the company’s response to the US FDA letter will hold the key, according to a CNBC-TV18 report.
Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

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Bajaj Auto: Q4 was in keeping with expectation
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Nepal Police arrests Dawood aide Yunus Ansari, fake Indian currency worth Rs 7.5 cr million seized
Posted on 25th May 2019
Nepal police on Friday arrested underworld don Dawood Ibrahim's associate Yunus Miya Ansari along with three Pakistani and two Nepalese citizens possessing counterfeit Indian currency amounting to over Rs 7.5 crores, from the Tribhuvan International Airport in Kathmandu.

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Surat fire: Gujarat CM Vijay Rupani orders fire safety audit of schools, malls after 20 die at coaching centre
Posted on 25th May 2019
Gujarat Chief Minister Vijay Rupani Friday ordered a fire safety audit of schools, colleges and coaching centres following a massive blaze which engulfed a four-storey commercial complex in Sarthana here, killing at least 20 teenage students, many of whom jumped and fell to their deaths while some were suffocated.

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