Zydus Lifesciences shares fell 4% in early deals on Wednesday after the pharma firm said USFDA conducted an inspection at the Injectable Manufacturing site situated at Jarod, near Vadodara. Zydus Life shares slipped 4.49% to Rs 916.40 against the previous close of Rs 959.55 on BSE. Market cap of the firm fell to Rs 93,534 crore.
The inspection was conducted from April 15 to April 23, 2024. The inspection closed with 10 observations. The company will closely work with the USFDA to address and respond to the observations in an expeditious manner, it said in a communication to BSE.
Total 0.41 lakh shares of Zydus Life changed hands amounting to a turnover of Rs 3.83 crore.
The share has gained 77.28% in one year and gained 31.31% since the beginning of this year. It has risen 160% and 60.52% in two and three years, respectively.
In terms of technicals, the relative strength index (RSI) of Zydus Lifesciences stands at 49.6, signaling it's trading neither in the overbought zone nor in the oversold zone. The stock has a beta of 0.3, indicating low volatility in a year.
The pharma stock stands higher than the 100 day, 150 day and 200 day but lower than the 5 day, 20 day, 50 day moving averages.
"We wish to inform that the USFDA conducted an inspection at the Injectable Manufacturing site situated at Jarod, near Vadodara. The inspection was conducted from April 15 to April 23, 2024. The inspection closed with 10 observations. The Company will closely work with the USFDA to address and respond to the observations in an expeditious manner. This may kindly be considered as a disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," said Zydus Lifesciences.