The company made the announcement during trading hours today, 29 November 2012.

Meanwhile, the BSE Sensex was up 254.88 points or 1.35% at 19,096.96.

On BSE, 27,484 shares were traded in the counter as against average daily volume of 33,532 shares in the past one quarter.

The stock hit a high of Rs 186.75 and a low of Rs 180 so far during the day. The stock had hit a 52-week high of Rs 203.35 on 25 September 2012. The stock had hit a 52-week low of Rs 101.15 on 13 December 2011.

The stock had underperformed the market over the past one month till 27 November 2012, declining 2.78% compared with the Sensex's 1.16% rise. The scrip had also underperformed the market in past one quarter, rising 5.36% as against Sensex's 6.58% surge.

The company has equity capital of Rs 23.75 crore. Face value per share is Rs 2.

Tizanidine Tablets USP 2 milligram (mg) and 4 mg are therapeutically equivalent to ZANAFLEX Tablets 2 mg and 4 mg from Acorda Therapeutics. Tizanidine tablets belong to a group of medicines called skeletal muscle relaxants. Tizanidine Tablets is used to help relieve, although not cure, muscle spasms caused by medical conditions such as multiple sclerosis or injuries to the brain or spine.

Unichem Laboratories said that Tizanidine Tablets will be commercialized from Unichem's Goa plant. Active pharmaceutical ingredient i.e., Tizanidine Hydrochloride used for this abbreviated new drug application (ANDA) is also made in-house at Roha plant, the company said in a statement.

Unichem Laboratories' net profit jumped 83.2% at Rs 35.07 crore on 32.5% growth in net sales to Rs 261.17 crore in Q2 September 2012 over Q2 September 2011.

Unichem Laboratories is an integrated specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world. In India, the company is a leader in niche therapy areas of cardiology, neurology, orthopedics and anti-infectives.