Sequent Scientific surged 10.49% to Rs 143.80 at 11:22 IST on BSE, extending recent rally triggered by the company's promoters converting warrants into equity shares at a high premium.
Meanwhile, the BSE Sensex was up 3.28 points, or 0.02%, to 18,316.22.
On BSE, 22,000 shares were traded in the counter compared with average volume of 7,048 shares in the past one quarter.
The stock hit a high of Rs 150.80 and a low of Rs 134.75 so far during the day. The stock hit a record high of Rs 257 on 20 December 2012. The stock hit a 52-week low of Rs 81.30 on 31 July 2013.
The stock had outperformed the market over the past one month till 22 August 2013, rising 24.37% compared with the Sensex's 9.16% decline. The scrip had also outperformed the market in past one quarter, falling 8.35% as against Sensex's 8.72% fall.
The small-cap company has an equity capital of Rs 25.28 crore. Face value per share is Rs 10.
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Sequent Scientific announced after market hours on 14 August 2013, that it allotted 2.32 lakh equity shares against conversion of same number of warrants at Rs 172 per share to two entities belonging to the promoter group. The conversion price was 71.14% premium to the stock's closing price of Rs 100.50 on 14 August 2013.
Sequent Scientific shares have risen 43.08% in five trading sessions from Rs 100.50 on 14 August 2013.
Sequent Scientific reported net loss of Rs 9.30 crore in Q1 June 2013 as against net profit of Rs 15.18 crore in Q1 June 2012. Net sales rose 58% to Rs 113.24 crore in Q1 June 2013 over Q1 June 2012.
SeQuent Scientific is an integrated pharmaceutical company with a global footprint.
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