52-week high alert: This small-cap pharma company share surged over 6 per cent, do you have it?

Shares of the company saw a spurt in volume by more than 2.67 times on BSE.

Today, the shares of Marksans Pharma Ltd surged over 6 per cent and touched a new 52-week high of Rs 87.70, an increase of 6.68 points from its previous closing of Rs 81.02. The shares of this company opened at   Rs 81.51 and touched a day high of Rs 87.70 and a low of Rs 81.51. 

In Q4FY23, the company reported a 178.93 per cent increase in net profit to Rs 82.71 crore as compared to Rs 29.65 crore in the same quarter last year and a 32.75 per cent rise sequentially. The net sales of the company increased by 16.25 per cent to Rs 485.98 crore as compared to Rs 418.04 crore in the same quarter last year and a marginal increase in net sales on a sequential basis.­ 

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Marksans Pharma, incorporated in 1992, was a wholly-owned subsidiary of Glenmark Pharmaceuticals. It became a separate entity in March 2003 and the name was changed to Marksans Pharma in 2005. Currently, the company has a presence in Active Pharmaceutical Ingredients (APIs), formulations, and biopharmaceuticals. It is also actively engaged in research and development and offers contract research and manufacturing services (CRAMS) to global pharmaceutical companies. 

The company, engaged in the production of prescription drugs, caters to areas such as oncology, gastroenterology, anti-diabetic, cardiovascular, pain management, gynecology, and others.