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Dishman Pharma continues its rally

Dishman Pharmaceuticals’ stock has extended its gains on Wednesday, touching its intraday high of  Rs 321.5 per share, higher by nearly 16% in the morning hours.
The stock rallied owing to the news floated in the market that Dishman Pharmaceuticals & Chemicals Limited had received USFDA approval for its ‘Zejula’ capsules. However, the company clarified that it had not received any such approval, but the company named Tesaro Inc., had received the approval from USFDA for its ‘Zejula’ capsules.
Despite of the clarification coming from Dishman Pharma, the stock is witnessing strong upward movement in the morning hours on Wednesday. Other pharma majors like Cipla and Sun Pharma are trading flat on Wednesday.
Stock View:
Dishman Pharmaceuticals and Chemicals Ltd is currently trading at Rs 307.6, up by Rs 29.4 or 10.57% from its previous closing of Rs 278.2 on the BSE.
The scrip opened at Rs 299.15 and has touched a high and low of Rs 321.5 and Rs 287.95 respectively. So far 10309837(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4489.99 crore.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 278.2 on 28-Mar-2017 and a 52 week low of Rs 127.6 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 278.2 and Rs 230.6 respectively.
The promoters holding in the company stood at 61.4 % while Institutions and Non-Institutions held 22.95 % and 15.65 % respectively.