Neuland Laboratories is locked in upper circuit for the third straight day, up 10% at Rs 232 on BSE, with no sellers on the counter. The stock is currently trading near its record high of Rs 243 touched in December 2004.
A combined 43,219 shares have changed hands on the counter so far and there are pending buy orders for 374,409 shares on BSE and NSE at 1040 hours.
Shares of Neuland Laboratories, which is into making active pharmaceutical ingredients (APIs), has rallied 45% in past three trading sessions, and zoomed 155% in the past one month.
In March this year, the company had announced a manufacturing collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, along with fine chemicals and reagents.
Under the terms of the agreement, API Corporation is making an investment in Neuland’s facilities that will provide APIC with dedicated capacity for meeting the needs of its customers.
A combined 43,219 shares have changed hands on the counter so far and there are pending buy orders for 374,409 shares on BSE and NSE at 1040 hours.
Shares of Neuland Laboratories, which is into making active pharmaceutical ingredients (APIs), has rallied 45% in past three trading sessions, and zoomed 155% in the past one month.
In March this year, the company had announced a manufacturing collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, along with fine chemicals and reagents.
Under the terms of the agreement, API Corporation is making an investment in Neuland’s facilities that will provide APIC with dedicated capacity for meeting the needs of its customers.
Meanwhile, the media report suggest that the company targets 20-25 APIs a year, of which at least 12-15 would be scaled up to commercial scale.
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