Bafna Pharmaceuticals, with a market cap of Rs.320 crore, hit the 5% UC today at Rs.135.15, the moment is opened for trading. Shares traded were less than 5000. Its 52-week high is at Rs.195.95.
The market is pretty happy with its announcement that it has added two fully automated packaging lines to its existing capacity and these have been approved by the UK-MHRA (Medicines and Healthcare products Regulatory Agency) for the United Kingdom and the European Union (EU).
Commenting on the approval, Mr. Mahaveer Chand Bafna, CEO of the company said, "The approval from UK- MHRA will provide further momentum to our already expanding business in the UK, Europe and other regulated markets. This approval will enable Bafna Pharma to increase its output and consequentially generate higher revenue and profits.”