The average trading volumes at the Morepen Laboratories counter jumped more than two-fold with a combined 38.92 million shares changing hands on the NSE and BSE till 03:12 PM on Thursday.
Going ahead, analysts suggest investors stick to domestic economy-focused sectors as the geopolitical situation still warrants caution.
The filing for sitagliptin tablets in three strengths marks Morepen's entry into integrated finished-dose development and regulatory filings in the US market
The gains in Morepen Labs come on the back of a positive business development announced by the company today involving the first phase of its manufacturing capacity expansion program.
Morepen Laboratories' share price hit a multi-year high of ₹112.85, soaring 8 per cent on the BSE in Wednesday's intra-day trade.
Morepen Laboratories today announced that its PAT surged by 394 per cent Y-o-Y to ₹56.35 crore in the June quarter, supported by better operating leverage and improved performance on API front.