Shares of pharma company Murae Organisor have hit a 5 per cent upper circuit today as the company has informed exchanges that its board has approved a major expansion plan. As per the expansion plan the company is exploring land acquisition and investment of up to Rs 250 million. According to information shared with the exchanges the company will explore the acquisition of agricultural land located in Kutch Gujarat. However the approval is subject to satisfactory due diligence receipt of necessary regulatory approvals and other statutory clearances. The acquired land upon successful completion of due diligence and all requisite approvals is proposed to be utilised primarily for cultivating high-quality pomegranates taking advantage of the regions favourable agro-climatic conditions. Additionally the company plans to establish a distillery facility on this site enhancing operational efficiency and enabling entry into value-added segments thus potentially diversifying and strengthening the Companys revenue streams the company said in an exchange filing. The stock hit an upper circuit of Rs 1.35 on the BSE. The counter started the session in green at Rs 1.34 and gained further to touch the high of Rs 1.35. The 52-week high of the stock is Rs 2.73 and the 52-week low is Rs 1.04 Earlier the company said in a regulatory filing that the company is considering the corporate action as part of its ongoing commitment to shareholder value creation. Meanwhile the stock market benchmark indices Sensex and Nifty rebounded sharply today and surged over 3 per cent amid a ceasefire between India and Pakistan. After starting the trade in the green the 30-share BSE benchmark gauge Sensex further jumped 2376.18 points or 2.99 per cent to 81830.65 in morning trade. The NSE Nifty surged 729.8 points or 3 per cent to 24737.80. As a result Investors wealth jumped by Rs 13.13 lakh crore to Rs 42954415.37 crore (USD 5.02 trillion) during the morning deals.