Stock market news: Sudarshan Pharma Industries Limited (SPIL) an Indian pharmaceutical company focuses on the manufacture sourcing and distribution of chemicals and pharmaceutical products. In a significant development the company announced on Wednesday that it has been granted a certificate of recognition as a One Star Export House by the Directorate General of Foreign Trade under the Department of Commerce Ministry of Commerce and Industry Government of India. This recognition which is valid for five years from May 8 2023 to March 31 2028 is expected to bring the small-cap stock in the specialty chemical sector into the spotlight. As of 12:16 IST on Thursday June 6 the stock was trading at its 3% lower circuit limit at ₹30.38 per share with a market capitalization of ₹731.12 crore. Furthermore the company has announced that its Extraordinary General Meeting (EGM) will take place on Thursday June 12 2025. The remote e-voting period will begin on Monday June 9 2025 at 9:00 a.m. and end on Wednesday June 11 2025 at 5:00 p.m. The remote e-voting module will be disabled by NSDL after this period. Members whose names appear in the Register of Members or as Beneficial Owners on the record date (cut-off date) which is Thursday June 5 2025 may cast their votes electronically. Voting rights will be proportionate to each shareholder’s share in the paid-up equity capital of the company as of the cut-off date Thursday June 5 2025 as stated by Sudarshan Pharma in a stock exchange filing. For the bulk drug industry the central government has allocated ₹100 billion. Of this amount ₹30 billion will be used to promote the development of three bulk drug parks over the next five years while ₹69.4 billion will support a production-linked incentive scheme designed to enhance the domestic production of critical key starting materials (KSMs) drug intermediates and active pharmaceutical ingredients (APIs) over the next eight years. Since most of the 53 essential APIs and intermediates identified in this scheme are necessary for producing crucial medications and India is heavily reliant on imports from China Sudarshan Pharma is establishing a manufacturing facility to produce some of these critical APIs that are currently imported from China.