Mumbai, Sep 2 (TIWN) Shares of Morepen Laboratories surged nearly 11 per cent on Thursday after the company announced to transfer its medical devices business to a wholly owned subsidiary.

During the initial trade, its shares hit an intraday high of Rs 56.95 per share.  Around 12.55 p.m., shares of the company on the BSE surged Rs 55.00, higher by Rs 3.65 or 7.11 percent from its previous close.