Shares of mid and small-cap pharmaceutical companies are in demand and trading higher by up to 20% on back of heavy volumes in otherwise weak market.
Jenburkt Pharmaceuticals, Anuh Pharma, Indoco Remedies, Granules India and Kopran have rallied between 5-20% on the Bombay Stock Exchange (BSE). The benchmark S&P BSE Sensex was down 0.62% or 155 points at 24,951 at 1445 hours.
Jenburkt Pharmaceuticals has locked in upper circuit of 20% at Rs 173 on BSE with no sellers on the counter. The trading volumes on the counter jumped more than five-fold with nearly 75,000 shares changing hands so far. There are pending buy orders for 16,515 shares on BSE.
Anuh Pharma has rallied 19% to Rs 263, also its 52-week high on the BSE. As many as 66,000 shares already changed hands against an average 16,000 shares that were traded daily in past two weeks on the BSE.
Granules India too, surged 5% to Rs 473, extending its 14% rally in past five trading sessions, after the company said that its paracetamol facility at Bonthapally in Andhra Pradesh has passed an inspection by the US health regulator.
On June 16, 2014 Granules India in a filing to the BSE said, the company's paracetamol facility has successfully passed a United States Food and Drug Administration (USFDA) inspection without any '483 observations'.
The facility has the world’s largest single active pharmaceutical ingredients (API) production line by volume.
Jenburkt Pharmaceuticals, Anuh Pharma, Indoco Remedies, Granules India and Kopran have rallied between 5-20% on the Bombay Stock Exchange (BSE). The benchmark S&P BSE Sensex was down 0.62% or 155 points at 24,951 at 1445 hours.
Jenburkt Pharmaceuticals has locked in upper circuit of 20% at Rs 173 on BSE with no sellers on the counter. The trading volumes on the counter jumped more than five-fold with nearly 75,000 shares changing hands so far. There are pending buy orders for 16,515 shares on BSE.
Anuh Pharma has rallied 19% to Rs 263, also its 52-week high on the BSE. As many as 66,000 shares already changed hands against an average 16,000 shares that were traded daily in past two weeks on the BSE.
Granules India too, surged 5% to Rs 473, extending its 14% rally in past five trading sessions, after the company said that its paracetamol facility at Bonthapally in Andhra Pradesh has passed an inspection by the US health regulator.
On June 16, 2014 Granules India in a filing to the BSE said, the company's paracetamol facility has successfully passed a United States Food and Drug Administration (USFDA) inspection without any '483 observations'.
The facility has the world’s largest single active pharmaceutical ingredients (API) production line by volume.