SPARC spurts 39.47% in four days

Sun Pharma Advanced Research Company jumped 5.4% to Rs 574.30 at 09:22 IST on BSE, extending recent gains triggered by US health regulator approving the company's new drug application for Elepsia XR extended-release tablets.

Meanwhile, the BSE Sensex was down 21.77 points, or 0.08%, to 28,823.01

On BSE, so far 4.65 lakh shares were traded in the counter, compared with an average volume of 6.99 lakh shares in the past one quarter.

The stock hit a high of Rs 598 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 552 so far during the day. The stock hit a 52-week low of Rs 144.10 on 31 March 2014.

The large-cap company has an equity capital of Rs 23.67 crore. Face value per share is Re 1.

Shares of Sun Pharma Advanced Research Company (SPARC) are on a roll recently, surging 39.47% in four sessions from a recent low of Rs 411.75 on 3 March 2015. The gains were triggered by Sun Pharma Advanced Research Company (SPARC) announcing during trading hours on Wednesday, 4 March 2015 that the US Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for Elepsia XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg). Elepsia XR is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India, SPARC said.

SPARC reported net loss of Rs 18.91 crore in Q3 December 2014 as against net profit of Rs 30.97 crore in Q3 December 2013. Net sales declined 50.31% to Rs 31.28 crore in Q3 December 2014 over Q3 December 2013.

SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.

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