Why This Akash Bhanshali-Backed Small Cap Stock Hit Its Highest This Year

Shares of Shilpa Medicare shot up on Tuesday after one of the company’s facilities successfully cleared an inspection by the Australian drug regulator.

What Happened: Shilpa Medicare said in an exchange filing its facility at Pharma SEZ, Jadcherla, Telangana, has successfully completed a good manufacturing practice inspection by the Therapeutic Goods Administration of Australia. The company received official communication confirming this on Tuesday.

The facility is primarily responsible for the manufacturing, packaging, labelling, testing and release of finished dosage forms, including sterile injections and non-sterile oral solids. These forms are used for the treatment of various cancer types and adjuvant therapy.

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Why It Matters: Notably, this inspection marks the fourth major international regulatory evaluation that the site has cleared within the past two years. Previous inspections were by authorities from Russia, Canada and Brazil, highlighting the facility’s strict adherance to global quality standards.

The successful outcome of the TGA Australia inspection will likely opens doors for the company to register and market its pharmaceutical products not only in Australia but also in other international markets that recognise the Australian GMP standards.

As per the latest shareholding data, Akash Bhanshali owns a 1.84% stake in the firm.

Price Action: Shilpa Medicare’s share price gained 1.36% to trade at ₹343.05 in the afternoon session on Tuesday, hitting its highest level so far this year.

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Posted In: EquitiesGovernmentRegulationsMarketsMoversTrading IdeasAkash BhanshaliShilpa Medicare