Infrastructure developer Lanco Infratech jumped 7.42% to Rs 13.46. The stock topped the gainers in the BSE's 'A' group. Lanco Infratech announced during trading hours today, 24 December 2012, that the Supreme Court of Australia pronounced a judgement in favour of Griffin Coal Mining Company, a subsidiary of the company.
Pharmaceutical company Ipca Laboratories climbed 6.36% to Rs 518.40. The stock was second biggest gainer in 'A' group. The stock hit a record high of Rs 519.80 in intraday today, 24 December 2012.
Pharmaceutical company Strides Arcolab rose 4.22% to Rs 1,159.15. The stock was third biggest gainer in 'A' group.
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Glenmark Pharmaceuticals rose 4.11% to Rs 519.70. The stock was fourth biggest gainer in 'A' group. The stock hit a 52-week high of Rs 527.15 in intraday today, 24 December 2012.
Glenmark Pharmaceuticals announced before trading hours today, 24 December 2012, that its wholly-owned unit, Glenmark Pharmaceuticals S.A. (GPSA), has entered into an agreement with Forest Laboratories on a collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain. Glenmark said it has identified clinical candidates and is currently conducting pre-clinical studies and other development activities required to support the initiation of first-in-human dosing.
Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work. Forest will make other future payments in the financial year ending March 2014 (FY 2014) to support the advancement of the ongoing PGES-1 inhibitors program. Forest has an exclusive option to obtain license rights to the program upon the completion of Phase-I clinical trials.
Media company Zee Entertainment Enterprises rose 3.54% to Rs 229.60. The stock was fifth biggest gainer in 'A' group. The stock hit a 52-week high of Rs 247 in intraday today, 24 December 2012.
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