Paracetamol API price expected to rise; Granules India and IOL Chemicals shares jump
Granules Indias shares climbed over 5 per cent, touching the intra-day high of Rs 323.7 apiece, and IOL Chemicalss shares zoomed over 9 per cent, touching the days high of Rs 497.45 apiece on the BSE.
Shares of pharmaceutical companies—Granules India and IOL Chemicals & Pharmaceuticals Ltd.—jumped in Wednesday's trading session (September 13). The buying interest in the stocks came after Zee Business reported that the prices of Paracetamol Active Pharmaceutical Ingredient (API) in the US market are expected to increase by 9–22 per cent in September.
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