SPARC hits 52-week high; stock up 15% in two days

Since July 13, the stock up 30% after the company allotted 15 million warrants at Rs 330 per share.

Sun Pharma Advanced Research (SPARC) hit 52-week high of Rs 390, up 5% in intra-day trade, extending its Wednesday’s 10% rally on BSE.

Since July 13, the stock outperformed the market by surging 30% after the company allotted 15.15 million warrants to promoters’ group companies at a price of Rs 330 per share. By comparison, the S&P BSE Sensex was down 0.6% during the same period.

“The Securities Allotment Committee of the company allotted 15.15 million warrants at a price (including the warrant subscription price and the warrant exercise price) of Rs 330 each aggregating to Rs 500