ManagementNovartis gains on hopes of flu vaccine order
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
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Novartis India has surged on hopes that its parent company Novartis may get the order for developing the swine flu vaccine.
The stock opened at Rs 435 and has surged 4.5% to a high of Rs 449, where it is currently trading. The counter has clocked a volume of 8,330 shares on the BSE so far, as against the two-week daily average trade of 5,919 shares.
The Swiss pharma major, Novartis, may get the order from the Indian government if it manages to develop the swine flu vaccine before the Indian companies. Health minister Ghulam Nabi Azad had commented that the government will not wait for Indian made vaccines to be ready, but will take the first available set of vaccines.