Ipca Laboratories has surged 6.1% to Rs 658, also its all-time high, on back of heavy volumes on the Bombay Stock Exchange (BSE).
A combined 953,345 shares have already changed hands on the counter till 1146 hours against an average sub 300,000 shares that were traded daily in past two weeks.
The stock of Mumbai-based pharmaceutical company has rallied 9.3% in past four trading sessions compared to 2.4% fall in benchmark Nifty on hopes of starting production at its Indore facility.
The company is awaiting USFDA approval for its Indore SEZ. Once the approval is received, the facility would cater to the US generic market and potentially post sales of US$100mn in the next 2-3 years, according to analyst at Angel Broking.
The Indore SEZ was inspected in April 2013; the Management estimates the clearance to come in the next 2 months’ time frame.
A combined 953,345 shares have already changed hands on the counter till 1146 hours against an average sub 300,000 shares that were traded daily in past two weeks.
The stock of Mumbai-based pharmaceutical company has rallied 9.3% in past four trading sessions compared to 2.4% fall in benchmark Nifty on hopes of starting production at its Indore facility.
The company is awaiting USFDA approval for its Indore SEZ. Once the approval is received, the facility would cater to the US generic market and potentially post sales of US$100mn in the next 2-3 years, according to analyst at Angel Broking.
The Indore SEZ was inspected in April 2013; the Management estimates the clearance to come in the next 2 months’ time frame.
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