India, Feb. 25 -- The shares of this company, which is an India-based R&D-driven biopharma company and manufacturer of fermentation-based APIs across immunosuppressants and oncology, had its shares in momentum today after the company skyrocketed after hitting its 52-week low, triggering a heavy buying with the stock.

With a market cap of Rs 12,788 crore, the shares of Concord Biotech Ltd jumped 18% in today's trading session and reached a high of Rs 1247. When compared to the intraday low price of Rs 1056.75, they are trading at a PE of 40 compared to its industry PE of 28. The shares have given a return of more than 30% since their listing in August 2023.

Why did the shares jump? Concord Biotech's 18% intraday jump today was largely a...