Gufic Biosciences surged 6.13% to Rs 72.75 at 10:44 IST on BSE after the company said it has received two patent certificates from Intellectual Property India.
The announcement was made after market hours yesterday, 5 June 2017.
Meanwhile, the S&P BSE Sensex was up 13.64 points, or 0.04% at 31,323.13. The S&P BSE Small-Cap index was up 9.65 points, or 0.06% at 15,419.60.
On the BSE, 1.51 lakh shares were traded on the counter so far as against the average daily volume of 3.41 lakh shares in the past one quarter. The stock had hit a high of Rs 73.75 and a low of Rs 71.25 so far during the day. The stock had hit a record high of Rs 77.40 on 18 May 2017 and hit a 52-week low of Rs 33.30 on 29 September 2016.
The stock had underperformed the market over the past one month till 5 June 2017, advancing 4.74% compared with the Sensex's 4.86% rise. The scrip had, however, outperformed the market over the past one quarter advancing 22.3% as against the Sensex's 8.59% rise. The scrip had also outperformed the market over the past one year advancing 66.79% as against the Sensex's 16.64% rise.
The small-cap company has equity capital of Rs 7.74 crore. Face value per share is Rs 1.
Gufic Biosciences said that it has received two patent certificates from the Intellectual Property India, the Government of India, granting patents to the company for the formulation of a freeze dried pharmaceutical composition and process for preparation i.e. process for preparation of parental formulation of Anidulafungin and the second formulation is a freeze dried parental composition of Tigecycline and process for preparation.
The company is in the process of applying the above patents in other countries, as well.
Gufic Biosciences' net profit rose 40.5% to Rs 3.12 crore on 13% increase in net sales to Rs 64.51 crore in Q4 March 2017 over Q4 March 2016.
Gufic Biosciences is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products.
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