Meanwhile, the S&P BSE Sensex was down 117.28 points or 0.4% at 28,883.09.

More than usual volumes were witnessed on the counter. On the BSE, 14,672 shares were traded on the counter so far as against the average daily volumes of 9,367 shares in the past one quarter. The stock had hit a high of Rs 268 and a low of Rs 260.80 so far during the day. The stock had hit a 52-week high of Rs 319.90 on 20 October 2016 and a 52-week low of Rs 210.10 on 18 March 2016.

The stock had underperformed the market over the past one month till 7 March 2017, falling 4.9% compared with 2.34% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 0.17% as against Sensex's 10.53% gains.

The small-cap company has equity capital of Rs 18.18 crore. Face value per share is Rs 2.

Unichem Laboratories announced that it has received abbreviated new drug application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Rizatriptan Benzoate ODT 5mg & 10mg and Rizatriptan Benzoate Tablets USP, 5mg & 10mg which are therapeutically equivalent to Maxalt – MLT Tablets 5mg & 10mg and Maxalt Tablets 5mg 10mg of Merck & Company, Inc.

Rizatriptan Benzoate Tablets USP, 5mg & 10mg and Rizatriptan Benzoate ODT USP, 5mg & 10mg; is a serotonin (5-HT) 1B/1D receptor agonist (triptan) indicated for the acute treatment of migraine in adults and in pediatric patients 6 to 17 years of age.

The product will be commercialized from Unichem's Goa plant. Active pharmaceutical ingredient (API) will also be made in house at Roha API plant.

Unichem Laboratories' net profit rose 26.3% to Rs 26.11 crore on 15.1% rise in net sales to Rs 348.79 crore in Q3 December 2016 over Q3 December 2015.

Unichem Laboratories is an international, 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. The company has strong skills in product development, process chemistry and manufacturing of complex APIs as well as dosage forms.