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Shares of medical devices and wellness products maker Nureca Ltd. surged nearly 17 percent on Thursday amid growing concerns over the surge in Covid-19 cases in China.

Nureca is a leading healthcare and wellness company with a product range of over 150 SKUs across different categories. Its product range includes nebulizer, BP monitors, finger pulse oximeter, glucose meter, thermometers, orthopedic and nutrition products. It owns brands like Dr Trust and Dr Physio.

The rally in the stock has come amid the government advisory asking people to get vaccinated, wear masks and observe Covid appropriate behaviour, as the number of cases of the Omicron subvariant BF.7 surged in China and other countries recently.

Three cases of BF.7 have been detected in India so far.

India also announced to launch random sample testing at airports for passengers arriving from China and other countries.

After listing in February 2021 at Rs 615, Nureca's shares more than tripled within a year to hit an all-time high of Rs 2,315. However, the stock has corrected significantly since then, making an all-time low of Rs 483.7 recently. The stock is down nearly 75 percent from its peak.

What also did not help matters is the fact that the company reported a net loss for the September quarter worth nearly Rs 3 crore.

One of the company's promoter, Payal Goel pared some of her stake in the company through a large trade last month, triggering the fall to an all-time low. Five promoters of the company cumulatively held close to 70 percent stake in the company as of the September quarter.

Shares of Nureca are trading 17.1 percent higher at Rs 581.20. This is the biggest single-day performance by the stock in over a year.