Shilpa Medicare’s shares are attracting attention today after its subsidiary, Shilpa Pharma Lifesciences, received a Certificate of Suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM) for Desmopressin. This is an active pharmaceutical ingredient (API) used to treat diabetes.
Desmopressin is a synthetic peptide produced by Shilpa Pharma Lifesciences through a method called solid-phase synthesis. It is effective in reducing frequent urination and excessive thirst, making it useful for treating central diabetes insipidus and bedwetting.
Keshav Bhutada, Executive Director of Shilpa Pharma Lifesciences, expressed pride in the company’s commitment to challenging chemical synthesis. He stated, “We at Shilpa have always been investing in challenging chemical synthesis. With unwavering commitment and belief in our technical capabilities, we have invested in developing a versatile peptide portfolio over the past few years, and Desmopressin is the first peptide molecule to receive CEP from the European Regulators.” He added that this certification highlights their expertise in quality development and manufacturing that meets global standards.
On Thursday, Shilpa Medicare’s stock closed at ₹793.60, down 4.9% on the Bombay Stock Exchange (BSE), while the benchmark Sensex dropped 2.1%. Despite this, the company’s shares have risen 148% in 2024 so far and 120% in the past year, giving it a market capitalization of ₹7,760 crore.
From a technical perspective, the stock’s relative strength index (RSI) is at 48.3. According to Trendlyne, an RSI below 30 is considered oversold, while an RSI above 70 indicates overbought conditions. The MACD stands at 28.2, which is above its center line but below the signal line. Currently, the stock is trading below its 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs), but remains above its 50-day, 100-day, 150-day, and 200-day SMAs.
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