Caplin Steriles receives EIR from US FDA: Stock hits fresh 52-week high

Today, the Sensex and Nifty have wrapped up the trading session on a positive note, recording gains of 0.37% and 0.48%, respectively.

Caplin Point Laboratories Ltd is involved in the production and procurement of APIs, and finished formulations, as well as conducting research and development and clinical research. The company has a presence in various regions including Latin America, Africa, the USA, and several other countries.

Caplin Steriles Ltd, a subsidiary of Caplin Point Laboratories Ltd, has officially received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its manufacturing facility specializing in injectable and ophthalmic products, situated near Chennai. This facility underwent inspection by the US FDA from May 22 to May 31. The outcome of the inspection, as classified by the agency, is Voluntary Action Indicated (VAI).

Commenting on the achievement, C.C. Paarthipan, Chairman said: “This is the fourth US FDA audit at this site and we’re pleased to receive the EIR with a satisfactory outcome. Our commitment to maintaining the highest levels of compliance at all our units remains steadfast. The receipt of EIR will help in receiving continued ANDA approvals for this unit, which is an important growth engine for us”.

Additionally, the company has proven to be a true multibagger stock, delivering remarkable returns of over 100%. 

Coined by Peter Lynch, the term “multibagger stock” symbolises exceptional growth and substantial returns, akin to a baseball player advancing to multiple bases. It represents an impressive achievement in the world of investing. 

Caplin Point Laboratories perfectly aligns with this definition, witnessing substantial buying activity and experiencing a surge of over 101% in the past one year. 

In this optimistic market sentiment, the shares of Caplin Point Laboratories Limited are trading at Rs 1070.30 apiece on BSE. Additionally, the stock hit a fresh 52-week high mark of Rs 1117 on the BSE. The company’s current market capitalisation is Rs 8,127.19 crore. 

Keep a close eye on this trending stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.