Everest Organics up 20% on launching Posaconazole API to treat Black Fungus

Posaconazole is a triazole antifungal agent indicated for treating mucormycosis patients popularly known as Black Fungus

Shares of Everest Organics hit a 20 per cent upper circuit limit of Rs 399.50, also its record high on the BSE in Tuesday's session after the company announced a successful development of Posaconazole API (Active Pharmaceutical Ingredient) used for the treatment of Black Fungus.

The trading volumes on the counter jumped nearly 10-fold with around 76,000 equity shares having changed hands on the BSE, as against an average sub 8,000 shares that were traded in the past two weeks. There were pending buy orders for 24,195 shares, the exchange data shows.

Posaconazole is a triazole antifungal agent indicated for treating mucormycosis,