Shasun Pharmaceuticals has moved higher by 6% to Rs 124, also its 52-week high on the BSE, ahead of the board meeting today to consider issuing convertible warrants/equity shares on a preferential basis to the promoters.
The stock has rallied nearly 41% in the past three trading sessions from Rs 88 on April 17, after the company said that a meeting of the board of directors will be held on April 23, 2014, inter alia, for considering the issue of convertible warrants / equity shares on a preferential basis to the promoters and others. The benchmark S&P BSE Sensex has gained 2.7% during the same period.
Meanwhile, according to media reports, the company might be a beneficiary of the Sevelamer molecule drugs going off patent in the US. Shasun is expected to be one of the Active Pharmaceutical Ingredients (API) supplier of these drugs.
The counter has seen huge trading activity, with a combined 2.53 million shares changing hands till noon deals against an average sub-2 million shares that were traded daily in the past two weeks on the NSE and BSE.
The stock has rallied nearly 41% in the past three trading sessions from Rs 88 on April 17, after the company said that a meeting of the board of directors will be held on April 23, 2014, inter alia, for considering the issue of convertible warrants / equity shares on a preferential basis to the promoters and others. The benchmark S&P BSE Sensex has gained 2.7% during the same period.
Meanwhile, according to media reports, the company might be a beneficiary of the Sevelamer molecule drugs going off patent in the US. Shasun is expected to be one of the Active Pharmaceutical Ingredients (API) supplier of these drugs.
The counter has seen huge trading activity, with a combined 2.53 million shares changing hands till noon deals against an average sub-2 million shares that were traded daily in the past two weeks on the NSE and BSE.
