Cadila Healthcare gains over 1% on BSE after USFDA nod for Doxazosin tablets

The stock of Cadila Healthcare gained over 1% during Tuesday’s trade on the BSE, driven by the tentative approval from the USFDA for Lurasidone Hydrochloride tablets.

Lurasidone is a generic version of Latuda that is used to treat schizophrenia.

On July 8, Cadila Healthcare received approval from the US Food and Drug Administration (USFDA) to market Doxazosin tablets. It is a selective alpha blocker used to treat high blood pressure and urinary retention associated with benign prostatic hyperplasia.

Cadila Healthcare was trading at Rs 523.55, up by Rs 5.40 or 1.04% as at 1144 hours on Tuesday, on the BSE. The stock had hit an intraday high of Rs 524.70.
 
Stock view:
 
Cadila Healthcare Ltd is currently trading at Rs 523.7, up by Rs 5.55 or 1.07% from its previous closing of Rs 518.15 on the BSE.

The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 558 on 12-Jun-2017 and a 52-week low of Rs 329.95 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 530.95 and Rs 508.35 respectively.
 
The scrip opened at Rs 524 and has touched a high and low of Rs 527 and Rs 519.5 respectively. So far 461944(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 53045.22 crore.
 
The promoters holding in the company stood at 74.79 % while Institutions and Non-Institutions held 17.14 % and 8.07 % respectively.
 
The stock is currently trading above its 50 DMA.