Shares of Morepen Laboratories, on Monday, were locked in 5 per cent upper circuit at Rs 68.65 on the BSE, hitting a 19-year high in an otherwise weak market. The pharmaceutical company s stock is trading at its highest level since May 2002, the BSE data shows.
Till 12:15 pm, a combined 8.2 million equity shares had changed hands and there were pending buy orders for 2.75 million shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.62 per cent at 48,481 points. In the past one month, the market price of Morepen Laboratories has zoomed 101 per cent, as compared to 3 per cent decline n the S&P BSE Sensex.
Shares of Morepen Laboratories extended their winning run to the second day in a row and jumped nearly 8 per cent to hit a fresh 52-week high on the BSE in Thursday s session after the company board approved raising Rs 433 crore via issuance of shares on a preferential basis.
So far in the two trading sessions, the scrip has gained 17 per cent. The stock of the smallcap pharma firm hit a fresh 52-week high of Rs 59.45 on the BSE today. At 10.55 am, it was trading 2.90 per cent higher at Rs 56.80 as against a decline of 0.31 per cent in the BSE Sensex at the same time.