Everest Organics, which had closed yesterday at rs.332.95, opened today 10% higher at Rs.399.50, its UC of the day and a new high too. Volumes had spiked up over 10 times.

The company yesterday evening announced the successful development of an anti-fungal API "Posaconazole" meant to treat black fungus patients, at the lab scale in its existing R & D facility.

Posaconazole is a triazole antifungal agent indicated for treating mucormycosis patients, popularly known as Black Fungus, in post Covid complications.

The company said that it is in advance stage of commercializing the same.

Everest has successfully in near past launched and commercialized 'Oseltamivir' and 'Remdesivir' both being used for Covid19.