Pharma stock jumps 5% from today's low this MoU update. Do you own?
Pharmaceuticals sector stock Sigachi Industries bounced back 5 per cent from its intraday low after a wholly owned subsidiary of the company, on Monday, April 28, signed a memorandum of understanding (Mou) with Respilon Group to work on nanofiber-based drug delivery technologies, according to an exchange filing.
'Sigachi Industries Limited, a leading player in pharmaceutical industry is pleased to announce that its wholly owned subsidiary, Sigachi MENA FZCO, has signed a Memorandum of Understanding (MoU) with Respilon Group s.r.o to advance nanofiber-based drug delivery technologies,' said the company in the BSE filing.
According to the filing data, the company aims to leverage Respilon's patented nanofiber technology to transform the patient experience and therapeutic outcomes as the firm seeks to deliver a non-invasive, precision drug delivery system.
'Partnering with Respilon aligns perfectly with our vision to deliver next-generation pharmaceutical solutions that improve therapeutic outcomes and elevate the patient experience. We are excited about the possibilities NUENEX® technology offers to revolutionize drug delivery systems globally,' said Amit Raj Sinha, the managing director and chief executive officer of Sigachi Industries.
The strategic collaboration also includes developing commercialisation strategies for relevant APIs and formulations, leveraging nanofiber encapsulation technology, according to the exchange filing.
Sigachi Industries shares hit an intraday high of ₹ 43.93 after the company announced the MoU update on Monday. The shares gained an overall 5.09 per cent to hit those highs from today's low of ₹ 41.80 per share.
The shares are currently trading 0.89 per cent higher at ₹ 43.20 during the afternoon trading session on April 28, compared to ₹ 42.82 at the previous stock market close, according to the BSE data.
Sigachi Industries shares have given stock market investors 22.91 per cent returns in the last one-month period, and the stock is currently trading above its year-low levels, which it hit in February 2025.
The shares hit their 52-week high level at ₹ 75.45 on May 27, 2025, while the 52-week low level was at ₹ 34.51 on February 17, 2025, according to the data collected from the BSE website.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
First Published: 28 Apr 2025, 03:16 PM IST
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