/ Merck Gets Demand Notice From NPPA For Overcharging Syrup Formulation ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Saturday, 31 December 2016

Merck Ltd has informed BSE that the company has received a demand notice from National Pharmaceutical Pricing Authority (NPPA) demanding a sum of Rs 11.68 crores plus interest Rs 15.78 crore alleging overcharging of price of the formulation, Polybion L 100 ML syrup, during the period from January 2006 to June 2009.

The government has issued the demand notice despite the fact that the company was neither a manufacturer nor a marketer of the subject drug. The company will challenge the said orders and will defend itself vigorously. The company has been legally advised it has a good defendable case on merits.

Merck Ltd ended at Rs 997.5, up by Rs 1.55 or 0.16% from its previous closing of Rs 995.95 on the BSE. The scrip opened at Rs 1002 and touched a high and low of Rs 1019.95 and Rs 993 respectively. A total of 17771(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1655.85 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 1060 on 16-Dec-2016 and a 52 week low of Rs 623 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 1019.95 and Rs 937 respectively.

The promoters holding in the company stood at 51.8 % while Institutions and Non-Institutions held 12.13 % and 36.07 % respectively. The stock traded above its 50 DMA.
or Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717