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Morepen Labs, D B Realty surge 50% in one week

Morepen Laboratories hit 52-week high of Rs 38.15 on Friday, surged 52%, while D B Realty rallied 50% to Rs 52.40 on the BSE

SI Reporter  |  Mumbai 

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and D B Realty, from the S&P BSE Smallcap index, have rallied 50% each during the current week t on back of positive development in these counters.

was locked in upper circuit for the second straight day, up 20% at Rs 52.40 on the BSE, after a special court acquitted all those said to have been involved in the scam including Vinod Goenka and Shahid Balwa, the managing directors and key managerial personnel of realty firm.

During the current week, the stock has appreciated 50% from Rs 35 on December 15, 2017. The counter has seen multiple-fold jump in trading volumes. A combined 2.21 million shares changed hands and there were pending buy orders for 5.06 million shares on the NSE and BSE at 02:59 PM.

hit 52-week high of Rs 38.15, up 12%, extending its over 35% rally in past three trading sessions on the BSE after the pharmaceutical company on Wednesday said that the United States Food and Drug Administration (USFDA) has cleared anti-asthmatic drug, Montelukast Sodium. In past one week, the stock zoomed 52% from Rs 25.05 on last Friday.

This gives Morepen an entry into the Rs 2,000 crore (approx. $ 300 million) US market for Montelukast. The first commercial orders for the bulk drug are expected in Q2 of FY2018-19, it added.

Montelukast (Singulair of Merck) is the largest selling anti-asthmatic drug in the world and is a major contributor to Morepen’s API business.

Montelukast’s global market is estimated at about Rs 13,000 crore (approx $ 2 billion) out of which US market alone is Rs 2,000 crore. The patent for Montelukast has expired in all the market worldwide. In US, the product patent got expired in 2012 and subsequently process patent expired in 2014, the company said.

MOREPEN LABS. 38.15 25.05 52.3
D B REALTY 52.40 35.00 49.7
BINANI INDS 139.80 96.25 45.3
ESTER INDS. 51.40 35.60 44.4
FORBES & CO 4036.25 2951.00 36.8
GODAWARI POWER 295.45 216.90 36.2
NACL INDUSTRIES 59.10 43.60 35.6
SVP GLOBAL 558.00 418.45 33.4
RENAISSANCE JEW. 359.65 274.85 30.9
ALEMBIC 56.05 42.90 30.7
SARLA PERFORMANC 67.05 51.50 30.2
SHIRPUR GOLD 220.80 170.00 29.9
IVRCL 5.42 4.20 29.1
BHARAT WIRE 137.25 107.05 28.2
STAMPEDE CAP. 8.71 6.85 27.2
UCAL FUEL SYS. 314.00 247.05 27.1
IFB AGRO INDS. 885.00 703.00 25.9
CHAMANLAL SETIA 209.95 166.80 25.9

First Published: Fri, December 22 2017. 15:07 IST