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Shares of Alembic Pharmaceuticals have rallied 10% to Rs 674 on back of heavy volumes on the bourses. It opened at Rs 623 and hit a record high of Rs 693 on the BSE.
The trading volumes on the counter jumped more than three-fold with a combined 1.04 million shares changed hands on the BSE and NSE till 1353 hours.
Since April 28, the stock has zoomed 50% from Rs 450 after the US Food and Drug Administration (FDA) approved the first generic versions of Abilify (aripiprazole). The S&P BSE Sensex remain flat during the same period.
The trading volumes on the counter jumped more than three-fold with a combined 1.04 million shares changed hands on the BSE and NSE till 1353 hours.
Since April 28, the stock has zoomed 50% from Rs 450 after the US Food and Drug Administration (FDA) approved the first generic versions of Abilify (aripiprazole). The S&P BSE Sensex remain flat during the same period.
