Shares of pharmaceutical firm Pfizer surged almost 16 percent to hit their all-time high level of Rs 4,929.85 in morning trade on March 3.
Shares of the company surged after reports emerged that its parent company in the US identified certain antiviral compounds it had in development that have the potential to inhibit coronaviruses.
As per a Reuters report, Pfizer Inc said that "it identified certain antiviral compounds it had in development that have the potential to inhibit coronaviruses and is engaging with a third party to screen the compounds."
The report further added that the company "hopes to have the results from that screening by the end of March and if any of the compounds are successful, it would hope to start testing them by the end of the year."
Shares of Pfizer traded 7.82 percent up at Rs 4591.90 on BSE around 10:10 hours.
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