Neuland Laboratories, a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), jumps on Wednesday after it opened a new manufacturing facility constructed as part of its collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group.

The new facility, which is located in a Neuland complex in Pashamylaram, Hyderabad, is the first manufacturing facility that APIC has established outside of Japan.

Shares of the company are trading at Rs 263.50, up Rs 9.45, or 3.72% at the Bombay Stock Exchange (BSE) on Wednesday at 11:31 a.m.

The scrip has touched an intra-day high of Rs 265 and low of Rs 262. The total volume of shares traded at the BSE is 82.

In the earlier session, the shares declined 0.08%, or Rs 0.19, at Rs 254.05. Currently, the stock is trading down 28.86% from its 52-week high of Rs 370.40 and above 197.74% over the 52-week low of Rs 88.50.