Alembic Pharma hits new high, surges 45% in 4 weeks on strong Q4 results

In the past four weeks, Alembic Pharma outperformed the market by surging 41 per cent as compared to Sensex's 1.1 per cent gain

Shares of Alembic Pharmaceuticals advanced for the second straight day, up 6 per cent, to hit a new high of Rs 896 on the BSE on Friday. The stock has rallied 12 per cent in the last two days.

On the National Stock Exchange (NSE), the pharma firm's stock gained 3 per cent and hit a high of Rs 874. In comparison, the S&P BSE Sensex and Nifty50 index were down 2.5 per cent in the past two trading days. The stock price more-than-doubled from its recent low of Rs 436, touched on March 23, 2020.

In the past four weeks,