Gufic Biosciences gets two patent certificates; stock soars over 5%

Mumbai: Gufic Biosciences on Monday informed the bourses that it has received two patent certificates from the Intellectual Property India, The Patent Office.

It has been granted patents for two formulations viz. process for the preparation of the parental formulation of Anidulafungin, and a freeze dried parental composition of Tigecycline and process for the preparation of it.

Meanwhile, Gufic Biosciences was up by 5.6% at Rs 72.45 per share at 11:23 hours IST on BSE. It hit a high of Rs 73.75 and a low of Rs 71.25 during the early market hours.

The stock has delivered stellar returns of more than 70% over one year’s time. It has also outperformed BSE small-cap and BSE Healthcare over the same period.

Gufic Biosciences Limited is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products. The company's segments include pharma, including formulations and bulk drugs.

Gufic BioSciences Ltd is currently trading at Rs 72.1, up by Rs 3.55 or 5.18% from its previous closing of Rs 68.55 on the BSE.

The scrip opened at Rs 71.85 and has touched a high and low of Rs 73.75 and Rs 71.25 respectively. So far 768443(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 530.23 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 77.4 on 18-May-2017 and a 52 week low of Rs 33.3 on 29-Sep-2016. Last one week high and low of the scrip stood at Rs 71 and Rs 64 respectively.

The promoters holding in the company stood at 69.98 % while Institutions and Non-Institutions held 0.2 % and 29.82 % respectively.

The stock is currently trading above its 50 DMA.