SMS Lifesciences got listed on 17^th August’17 and since that day, on all the 26 trading sessions it has been breaching the upper circuit, every single day, hitting new highs. It got listed at Rs.135 and today, it hit another high at Rs.549.65. An appreciation of over 300% from listing day.

There was no IPO, this company was formed after it was demerged from SMS Pharmaceutical and as per the scheme of arrangement, 30,23,287 equity shares of Rs 10 each as fully paid up were allotted to members of SMS Pharmaceutical as on record date of 23 June 2017 in the ratio of 1 equity share of Rs 10 each of SMS Lifesciences allotted for every 28 equity shares of Re 1 each of SMS Pharma.  

There is no apparent reason for this phenomenal surge in the stock price; obviously just being driven relentlessly by vested sources. Such one-sided upsurge is most certainly not on account of fundamental reasons, more so when the market itself has been in the red.