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Claris Lifesciences rallies 51% in four days on FIIs buy

SI Reporter/Mumbai 21 Aug 12 | 10:06 AM
 Claris Lifesciences Ltd
tradenow

BSE   31 Oct 14 | 12:00 AM

169.10  0.45 (0.27%)

NSE   01 Jan 70 | 05:30 AM

0.00  0 (0%)

Claris Lifesciences has surged 12% at Rs 244, extending its past three days rally on back of huge interest from foreign institutional investors (FIIs) in the counter on hopes of favourable USFDA decision.The overseas investors have bought 2.6% or 1.65 million shares of the pharmaceutical company through open market transactions.

On Friday, August 17, Morgan Stanley Asia (Singapore) Pte has bought 500,000 shares of the company at an average price of Rs 217.89 per share. On August 16, Barclays Capital Mauritius acquired about 1% or 401,100 shares at Rs 162 per share through bulk deal on BSE. In last week, Barclays Capital Mauritius purchased 750,000 shares at Rs 162 per share.

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The generic sterile injectables maker has received the FDA's nod for plants in New Jersey and India. According to markets report, the company seems to have set its house in order after manufacturing issues led the FDA to impose an import ban on some of its products.

The stock is currently trading at its all-time high market price, since its listing on December 2010 and has rallied 51% in past four trading days on the BSE.  Around 396,000 shares have changed hands on the counter in morning trades.

 

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