IPCA Laboratories share hit all-time high today after global brokerage Morgan Stanley listed the pharma firm as a potential inclusion to the MSCI India index. Share of IPCA Laboratories rose 14.67% to all-time high of Rs 2440.45 against previous close of Rs 2,128 on BSE. Later, the share closed Rs 247 or 11.62% higher at Rs 2375.50 on BSE.
Ipca Laboratories share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 147% in last one year and risen 109% since the beginning of this year. Total 0.95 lakh shares changed hands amounting to turnover of Rs 21.86 crore on BSE.
Market cap of the firm rose to Rs 30,127 crore.
IPCA Laboratories will announce its Q2 earnings on November 7, 2020.
"A meeting of the Board of Directors of the company is scheduled on 07/11/2020, inter alia, to consider and approve Unaudited Financial Results for the 2nd quarter and half year ended 30th September, 2020 of the financial year 2020-21; and To consider declaration of Interim Dividend for the financial year 2020-21," the firm said today .
Morgan Stanley also listed Kotak Mahindra Bank as a potential inclusion to the MSCI India index. The share of private sector lender rose 13.08% intra day to Rs 1600.95 and closed 12.17% higher on BSE.
Morgan Stanley said in a note it expects the MSCI India index to see passive inflows of $2.5 billion following the changes.