Indian Overseas Bank, UCO Bank, Solara Active Pharma Sciences Ltd and Central Bank of India are among the other gainers in the BSE's 'A' group today, 21 December 2022.

IOL Chemicals & Pharmaceuticals Ltd surged 13.25% to Rs 396.25 at 11:45 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 13562 shares in the past one month.

Indian Overseas Bank soared 10.71% to Rs 34.1. The stock was the second biggest gainer in 'A' group. On the BSE, 90.77 lakh shares were traded on the counter so far as against the average daily volumes of 79.76 lakh shares in the past one month.

UCO Bank spiked 9.76% to Rs 34.3. The stock was the third biggest gainer in 'A' group. On the BSE, 110.81 lakh shares were traded on the counter so far as against the average daily volumes of 104.98 lakh shares in the past one month.

Solara Active Pharma Sciences Ltd spurt 8.97% to Rs 463. The stock was the fourth biggest gainer in 'A' group. On the BSE, 20045 shares were traded on the counter so far as against the average daily volumes of 7542 shares in the past one month.

Central Bank of India gained 8.44% to Rs 37.9. The stock was the fifth biggest gainer in 'A' group. On the BSE, 44.29 lakh shares were traded on the counter so far as against the average daily volumes of 74.38 lakh shares in the past one month.

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Shares of IOL Chemicals & Pharmaceuticals surged 18.22% in two consecutive sessions.

On the BSE, 1.02 lakh shares were traded in the counter so far compared with average daily volumes of 13,000 shares in the past two weeks.

The stock hit 52-week high of Rs 536.70 on 7 April 2022. The stock hit a 52-week low of Rs 295.10 on 8 March 2022.

The stock had outperformed the market over the past one month, surging 21.13% compared with 0.73% rise in the Sensex.

The counter had outperformed the market in past one quarter, rising 7.69% as against Sensex's 3.59% rise.

The scrip had underperformed the market in past one year, sliding 10.72% as against Sensex's 9.36% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 73.131. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 351.12, 358.51 and 370.09 respectively.

IOL Chemicals & Pharmaceuticals is engaged in the manufacturing and selling of pharmaceutical and chemical products. The company caters to both domestic and international market.

The company's consolidated net profit declined 54.1% to Rs 15.91 crore on 4.2% decrease in net sales to Rs 541.41 crore in Q2 FY23 over Q2FY22.

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IOL Chemicals & Pharmaceuticals has received patent from Controller of Patent, Indian Patent Office, Government of India for invention titled 'An improved safe process for the preparation of Sartan drugs of Formula I'.

Valsartan, Losartan, Irbesartan, Olmesartan, Candesartan and other Sartan drugs are a class of medicines known as angiotensin II receptor blocker (ARBs) used to treat high blood pressure and heart failure.

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The company informed, Controller of Patent, Indian Patent Office, Government of India has granted Patent for invention entitled AN IMPROVED SAFE PROCESS FOR THE PREPARATION OF SARTAN DRUGS OF FORMULA I.

Valsartan, Losartan, Irbesartan, Olmesartan, Candesartan and other Sartan drugs are a class of medicines known as Angiotensin II Receptor blocker (ARBs) used to treat high blood pressure and heart failure.

IOL Chemicals & Pharmaceuticals is engaged in the manufacturing and selling of Pharmaceutical and Chemical products. The company caters to both domestic and international market.

On standalone basis, the company's net profit declined 49.2% to Rs 15.67 crore on 0.7% rise in net sales to Rs 541.41 crore in Q2 FY23 over Q2 FY22.

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