The Suven Life Sciences scrip hit the upper circuit of 20 per cent after recording a trading volume of over 38 lakh shares. This volume was eight times higher compared to its two-week average volume of over 5.8 lakh shares on the Bombay Stock Exchange. The stock opened at Rs 29.80 and closed at Rs 31.60.

After the market hours on Monday, the company had unveiled its plans to raise funds for clinical development of SUVN-502 and creation of a dedicated Drug Discovery Centre. The company had also announced that it would seek shareholders’ approval for the same in its ensuing annual general meeting.

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