Shilpa Medicare has received EIR (Establishment Inspection Report) from USFDA to its two API manufacturing facilities located at Raichur, Karnataka.

The inspection was carried out between January 16-19, 2018. The inspection has now been closed by USFDA, which means that both the facilities have now clearance from the USFDA.

The stock had underperformed the market over the past one month till Jul. 10, 2018, falling 3.04% compared with the Sensex's 2.60% rise. It underperformed the market in past one quarter, declining 18.18% as against 6.96% rise in the Sensex.

Shares of the company gained Rs 34.35, or 8.82%, to trade at Rs 424.00. The total volume of shares traded was 56,094 at the BSE (11.48 a.m., Wednesday).