Small-cap stock Godavari Biorefineries shares rallied nearly 15% in intraday trade on Thursday, October 15, after the company announced that its US-based patent application for a cancer-treatment compound had been granted.
The stock also witnessed an extraordinary surge in trading activity, with the number of shares traded exceeding its average weekly volume by more than 132 times.
Godavari Biorefineries shares climbed as much as 14.8% to an intraday high of ₹262 apiece.
The sharp price movement and surge in volumes put the stock in focus, with the company's patent announcement providing a key development for investors to assess.
Godavari Biorefineries informed the stock exchanges on October 14 that its US-based patent application, titled “5-HYDROXY-1,4-NAPHTHALENEDIONE FOR USE IN THE TREATMENT OF CANCER”, had been granted.