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Hikal hits new high on signing 10-year deal with global pharma Co

This contract entails the development and supply of a portfolio of niche APIs (Active Pharmaceutical Ingredient) over a period of 10 years

Hikal's R&D facility in Pune
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Hikal's R&D facility in Pune

SI Reporter Mumbai
Hikal shares, on Wednesday, rallied 10 per cent to Rs 313.65, also its new high, on the BSE in intra-day trade after the company signed multi-year contract with a leading global pharmaceutical company.

In the past one month, the stock has zoomed 97 per cent, as compared to 3 per cent decline in the S&P BSE Sensex. Till 09:26 am, a combined 975,000 equity shares had changed hands on the NSE and BSE. There were pending buy orders for around 280,000 shares on these exchanges, data shows.

 “This contract entails the development and supply of a portfolio of