Granules India rallies 8% in a weak market, hits fresh all-time high

The stock hit a record high of Rs 350 today. It has surged 13% thus far in the current week, as compared to a 2% decline in the S&P BSE Sensex

Shares of Granules India hit an all-time high of Rs 350 in an otherwise weak market, ralling 8 per cent on the BSE on Friday. Thus far in the current week, the stock of the pharmaceutical company has surged 13 per cent as compared to 2 per cent decline in the S&P BSE Sensex. It surpassed its previous high of Rs 336 touched on August 10, 2020.

On August 22, Granules India had announced that its subsidiary company Granules Pharmaceuticals Inc had received approval from the US Food & Drug Administration (US FDA) for Ramelteon Tablets 8 mg, a bioequivalent