Bafna Pharma in the limelight

Bafna Pharma has been in the limelight over the past two days. Today, the stock opened at an intra day high of Rs.35.95 and it is currently up almost 9% at Rs.33. Volumes are up 7 times.

This small cap pharma stock is in the limelight following grapevine that US based Mylan  and two more Indian pharma companies are in the race to acquire the company.

This Chennai based company makes haemoglobin drug 'Raricap' among other products and it has US and EU certified manufacturing facilities in India. The company has been valued at Rs.56 crore  but the promoters could divest their stake at a much higher price. Promoters currently have a 30.87% stake, with no institutional holding.