Shares of small cap firm RPG Life Sciences surged up to 14.81 per cent, hitting its 52-week high at Rs 2057.15 per share on the BSE in Monday's intraday deals
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty needs to breakout from the 18,669 - 18,888 range to gain momentum.
RPG Life Sciences said its net profit increased 14 per cent to Rs 14.63 crore for the third quarter ended December 31, 2021.
The domestic formulations business of the company will continue to focus on building chronic therapies, expanding specialty portfolio and life cycle management of current legacy products
Despite the pharmaceutical industry having the essential commodities tag, the administration, police and building societies was not allowing movement of people and products
Meanwhile, operational revenue during the quarter grew 8.8 per cent at Rs 98.49 crore, as against Rs 90.5 crore in the corresponding quarter of the previous year.
Pharma company to enter US market in two-three years
The company is diversifying in new areas such as cosmetology and dermatology
The stock surged 17% to Rs 273 on the BSE on back of heavy volumes.
The formulations business contributes about 60 per cent to company's overall sales