Meanwhile, the S&P Sensex was up 114.23 points, or 0.39% at 29,281.91. The S&P BSE Small-cap index was up 136.31 points, or 0.98% at 14,038.23.

High volumes were witnessed on the counter. On the BSE, 7.03 lakh shares were traded on the counter so far as against the average daily volumes of 95,769 shares in the past one quarter. The stock had hit a high of Rs 69 so far during the day, which is also a record high for the stock. The stock had hit a low of Rs 60.50 so far during the day.

The stock had hit a 52-week low of Rs 33.30 on 29 September 2016. The stock had outperformed the market over the past one month till 22 March 2017, rising 7.29% compared with 1.05% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 11.64% as against Sensex's 12.27% rise.

The small-cap company has equity capital of Rs 7.74 crore. Face value per share is Re 1.

Gufic Biosciences said that a meeting of the board of directors of the company is scheduled to be held on 3 April 2017, to consider amalgamation of Gufic Lifesciences with the company.

Gufic Biosciences' net profit rose 28.1% to Rs 3.10 crore on 15.9% increase in sales to Rs 64.97 crore in Q3 December 2016 over Q3 December 2015.

Gufic Biosciences is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products.