Sharon Bio-Med in the limelight

Sharon Bio-Medical is in the limelight today. This small-cap stock has today seen an over 2.5 times rise in volumes and price is up almost 2% at Rs.42.80. Its intra day high is at Rs.43.15 and 52-week high is at Rs.57.95.

The company which manufactures intermediates, active pharmaceutical ingredients and finished dosage forms, stated that it has completed expansion of its three manufacturing facilities. According to a statement issued by the company to the exchanges, it invested about Rs.125 crore for the expansion. Of this, Rs.85 crore was spent on the Dehradun formulations plant. Capacity at the plant has been more than doubled. Commercial production is expected to kick off in June. At Sharon’s two other expanded plants at Taloja near Navi Mumbai, commercial production has already started.