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Hester Biosciences stock surges 20% on collaboration with IIT Guwahati for COVID-19 vaccine

As per the Ahmedabad-based pharmaceutical company, the vaccine will be based on a recombinant avian paramyxovirus based vector platform.

twitter-logoBusinessToday.In | April 29, 2020 | Updated 16:56 IST
Hester Biosciences stock surges 20% on collaboration with IIT Guwahati for COVID-19 vaccine
Hester Biosciences stock has traded in a wide range of Rs 216.65 today. It has risen 34.54% in one week and 34.8% in one month.

Hester Biosciences shares were locked in 20% upper circuit on Wednesday's trade after the vaccine manufacturing company announced its collaboration with IIT Guwahati  in a move to work on the vaccine development against COVID-19.

Hester Biosciences share price opened with a gain of 4.64% today. It was later locked 20% upper circuit at the day's high of Rs 1,366 against last closing of Rs 1,139 on BSE.

The stock traded with high buying interest, with only bids and no offers. It stands higher than its 5, 20 and 50-day moving averages but lower than 100 and 200-day moving averages.

Hester Biosciences stock has traded in a wide range of Rs 216.65 today. It has risen 34.54% in one week and 34.8% in one month.

As per the Ahmedabad-based pharmaceutical company, the vaccine will be based on a recombinant avian paramyxovirus based vector platform.

The recombinant avian paramyxovirus-1 will be used to express the immunogenic protein of SARS-CoV-2, the filing added.

The stock closed at 20% or Rs 227 higher at Rs 1,366 on BSE today.

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