Panacea Bio in the green

Panacea Biotech has been on the green run for a couple of days now. The stock is up today too, up almost 12% at Rs.137.10, with an intra day high and low at Rs.142 and Rs.125.40. Volumes are up almost 3 times at 67,000 shares.

The stock is up as bargain hunters look for opportunities to take position in potential long term stocks. Marketmen are hoping that as promised by the company during the declaration of the Q1FY14 results, re-listing of pentavalent vaccine in the list of World Health Organisation's (WHO) pre-qualified vaccines would happen very soon. . The company has already taken all corrective and preventive measures post the WHO auditors visit and thus hopes are up. Announcement of this re-listing news will be a big trigger for the stock.