Mangalam Drugs and Organics shares have surged over 88 percent in the past 13 trading sessions, hitting back-to-back upper circuits during the period.
On Wednesday, the stock hit its 5 percent upper circuit and closed at Rs 44.77 apiece on the NSE. It opened at the same level and remained locked in the upper circuit through the session.
The stock has gained 88.27 percent over the last 13 sessions. The stock also saw a series of bulk deals last week.
On January 7, Kedia Securities Private Limited sold around 1.38 lakh shares valued at Rs 48.35 lakh in a bulk transaction, according to exchange data.
Other sellers included Neo Apex Venture LLP, which sold shares worth Rs 27.6 lakh, Epitome Trading and Investments, which sold shares worth Rs 42 lakh, and Multiplier Share and Stock Advisors Private Limited, which sold shares worth Rs 44 lakh.
Earlier, in December, Kedia Securities had purchased shares worth over Rs 33 lakh in the company.
Data on the NSE showed that on December 29, Kedia Securities bought around 1.38 lakh shares at Rs 24.15 per share in a bulk deal, taking the transaction value to Rs 33.28 lakh.
Mangalam Drugs and Organics is engaged in the manufacture of active pharmaceutical ingredients (APIs) and intermediates.
Despite the recent rally, the stock is still down nearly 57 percent over the past one year, according to BSE Analytics data.
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