The scrip jumped 19.99 per cent to Rs 490.90 -- its upper circuit limit -- on the BSE.
On the NSE, it zoomed 19.99 per cent to Rs 491.20 -- its highest permissible trading limit for the day.
The drug firm on Saturday said it has launched antiviral drug FabiFlu for the treatment of patients with mild to moderate COVID-19 at a price of about Rs 103 per tablet.
The drug will be available as a 200 mg tablet at a maximum retail price (MRP)of Rs 3,500 for a strip of 34 tablets, Glenmark Pharmaceuticals said.
FabiFlu is the first oral favipiravir-approved medication in India for the treatment of COVID-19, it said in a statement.
The Mumbai-based firm had on Friday received the manufacturing and marketing approval from the Drugs Controller General of India. SUM ANS ANS