A pharma company is among the top gainers today. Know why

Futures of Ajanta Pharma, a mid-sized drugs maker, were the top gainer in the derivatives space even as traders concentrated on booking profit in the broader market.

Ajanta Pharma futures gained 3.9 percent to a fresh high of 1,684 rupees on volumes of 4,475 contracts, which was the highest in at least one month. Futures' Open Interest surged 12 percent. In comparison the CNX Pharma Index was up just 0.7 percent while the broader Nifty was flat.

Ajanta Pharma has been among the best performing mid cap companies this year as investors latched on to a surge in both sales and profit from the company. Its market capitalisation has surged 193 percent over 1 year to 14,780 crore rupees.

(Image credit: Indiatimes)