Marksans Pharma spurts 14% in two sessions

Marksans Pharma rose 2.92% to Rs 54.55 at 13:44 IST on BSE, extending yesterday's 10.76% triggered by the company receiving USFDA approval for an ANDA for Loratadine liquid filled capsules 10 mg.

Meanwhile, the BSE Sensex was up 26.13 points, or 0.09%, to 28,320.41.

On BSE, so far 29.25 lakh shares were traded in the counter, compared with average daily volume of 7.73 lakh shares in the past one quarter. The stock hit a high of Rs 55.55 and a low of Rs 53.15 so far during the day. The stock hit a 52-week high of Rs 113.80 on 28 December 2015. The stock hit a 52-week low of Rs 33.45 on 1 March 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 29.74% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.84% as against Sensex's 6.67% rise.

The small-cap company has equity capital of Rs 40.93 crore. Face value per share is Re 1.

Marksans Pharma announced during market hours yesterday, 26 September 2016, that US Food and Drug Administration (USFDA) has granted approval to the company for an Abbreviated New Drug Application (ANDA) for Loratadine liquid filled capsules 10 mg. Loratadine liquid filled capsules 10 mg is therapeutically equivalent to the reference listed drug Claritin Liqui-Gels Capsules 10 mg of Bayer Healthcare LLC. Loratadine is an antihistamine that reduces the effects of natural chemical histamine in the body. Loratadine is used to treat sneezing, runny nose, watery eyes, hives, skin rash, itching and other allergy symptoms.

Shares of Marksans Pharma spurted 10.76% to settle at Rs 53 yesterday, 26 September 2016. The stock has risen 14% in two sessions from its close of Rs 47.85 on Friday, 23 September 2016.

Marksans Pharma's consolidated net profit fell 96.76% to Rs 1.02 crore on 11.14% fall in net sales to Rs 186.75 crore in Q1 June 2016 over Q1 June 2015.

Marksans Pharma is engaged in research, manufacturing and marketing of generic pharmaceutical formulation in the global market.

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