Small sized IT, Pharma shares rally on heavy volumes

Accelya Kale, Geometric, R S Software, Tata Elxsi, Sharon Bio-Medicine, Unichem Lab and Granules were up 4%-19% each on the BSE.

Shares of small-sized information technology (IT) and pharmaceutical shares have rallied on the bourses on the back of heavy volumes.

Accelya Kale Solutions, Geometric, R S Software, Tata Elxsi, Aptech and NIIT from the IT sector, as well as Sharon Bio-Medicine, Unichem Laboratories, Granules India, Nectar Lifesciences, Marksans Pharma and Natco Pharma from the pharmaceuticals space were trading higher by 4%-19% each on the Bombay Stock Exchange (BSE).

At 11:03 AM, the S&P BSE Smallcap index was up 0.66% or 78 points at 11,970 compared to a 0.46% and 0.35% gain in the S&P BSE Midcap & S&P BSE Sensex respectively.

Sharon Bio-Medicine has soared by 19% to Rs 24.70, extending its previous day’s 20% surge on the BSE, after the drug company said the US health regulator has inspected one of its formulation plants in Dehradun.

"In the last week one of our formulation plants at Dehradun in Uttarakhand has been inspected and audited by US Food and Drug Administration (USFDA) officials," Sharon Bio-Medicine said in a BSE filing.

USFDA had inspected the company's manufacturing facility at Taloja near Navi Mumbai last month, Sharon Bio-Medicine added.

Geometric has rallied 13% to Rs 146 on the back of an over five-fold jump in trading volumes. A combined 2.83 million shares have already changed hands on the counter as against an average sub-500,000 shares that were traded daily in the past two weeks on the BSE and NSE.

Tata Elxsi has surged by 6% to Rs 2,253 and has seen an over two-fold rise in trading volumes. The stock had touched a record high of Rs 2,317 in intra-day trades. It zoomed by 74% from Rs 1,329 in the past one month after the company reported a strong 71% year-on-year growth in net profit at Rs 35.72 crore for the quarter ended June 30, 2015 (Q1).

Meanwhile, Granules India, Ipca Laboratories and Strides Arcolab from the smallcap pharma space are trading at 52-week highs on the BSE.

TOP GAINERS FROM BSE S&P SMALLCAP INDEX
Name	LTP* (Rs)	Chg (Rs)	% Chg
Sharon Bio-Medicine	25.25	3.95	18.54
Sunteck Realty	265.00	39.95	17.75
Geometric	145.50	16.40	12.70
Lypsa Gems	86.60	8.25	10.53
Accelya Kale	1128.00	107.25	10.51
Unichem Lab	262.80	21.95	9.11
Granules India	129.50	10.60	8.92
Arvind Remedies	17.75	1.40	8.56
Nectar Lifesciences	43.45	3.15	7.82
R S Software	178.70	12.60	7.59
*LTP - Last traded price on BSE in Rs
Chg, % Chg over previous close
At 10:56 AM.