Sun Pharma Advanced Research Company (SPARC) has surged nearly 12% at Rs 162, in otherwise subdued market, on back of heavy volumes on the bourses. The stock opened at Rs 144 on BSE and has seen over four-fold jump in trading volumes.
A combined 3.07 million shares representing 4% free-float equity of the company have changed hands on the counter till 1115 hours against an average less than 400,000 shares that were traded daily in past two weeks on BSE and NSE.
Since October 29, shares of SPARC, a pharma research and drug discovery company, has rallied 26% after the company said it has reported a net loss of Rs 7.65 crore for the second quarter ended September 30, 2013 against net loss of Rs 24.12 crore in the corresponding period previous fiscal. The benchmark S&P BSE Sensex has declined 1.94% during the same period.
Income from operations of the company also rose to Rs 25.84 crore for the quarter under consideration from Rs 4.85 crore for the same period year ago, it added.
A combined 3.07 million shares representing 4% free-float equity of the company have changed hands on the counter till 1115 hours against an average less than 400,000 shares that were traded daily in past two weeks on BSE and NSE.
Since October 29, shares of SPARC, a pharma research and drug discovery company, has rallied 26% after the company said it has reported a net loss of Rs 7.65 crore for the second quarter ended September 30, 2013 against net loss of Rs 24.12 crore in the corresponding period previous fiscal. The benchmark S&P BSE Sensex has declined 1.94% during the same period.
Income from operations of the company also rose to Rs 25.84 crore for the quarter under consideration from Rs 4.85 crore for the same period year ago, it added.