Admin Reporter- POOJA1

Nov 24 2020

Granules India shares gain 5%, hit record high on heavy volumes

Tuesday, 24 November 2020

Shares of Granules India hit a record high of Rs 417 after rising 5 per cent on the BSE on Tuesday on the back of heavy volumes. The pharmaceutical company's stock surpassed its previous high of Rs 406.90, touched on September 29, 2020.



At 10:44 am, the stock was trading 3 per cent higher at Rs 412 on the BSE, as compared to 0.74 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 2.23 million equity shares changing hands on the NSE and BSE, so far.



In the July-September quarter (Q2FY21), the company’s revenue from operations grew by 22.7 per cent year-on-year (YoY) mainly on an account of new launches and increase in market share of existing products across the three verticals.

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