Transgene soars on drug licences

DALAL STREET SPIKES

The Transgene Biotek scrip extended its gains further, rising 9.8 per cent to Rs 24.60, on receiving licenses for manufacturing four drugs, used in controlling cholesterol. The company had announced on Friday (January 2) that it has received the Indian regulatory nod for the four drugs and the stock has jumped by about 27 per cent since then. The stock made an intraday low of Rs 22.10 and eventually got locked in the upper circuit at Rs 24.60. The counter witnessed trading volumes of 84,266 shares (2.7 times it two-week average), with delivery volumes of 66 per cent.