RPG Life Sciences shares jumped 20 per cent today after the drug firm forayed into the cosmetic segment by collaborating with an Italian cosmetic firm Labo Cosprophar.
The stock climbed 20 per cent to settle at Rs 279.65 on BSE, its highest in the day.
On NSE, it rose 19.98 per cent to end at Rs 278.60.
On the volume front, 2.71 lakh shares of the company were traded on BSE and over 8.5 lakh shares changed hands at NSE during the day.
"The company is in-licensing two research-based products to be launched in the Indian cosmetic market this July," RPG Life Sciences said in a statement.
A separate division has been created to market Crescina and Fillerina, products specialised in hair fall control and anti-ageing, respectively, it said.
"Their (Labo Cosprophar) products have presence in over 33 countries, including Europe, the UK, the US and Asia. We are confident that both these products will be ideal to fill the need gap in respective therapies," RPG Life Sciences Managing Director C T Renganathan said.
