New Delhi, April 28 -- Pharmaceuticals sector stock Sigachi Industries bounced back 5 per cent from its intraday low after a wholly owned subsidiary of the company, on Monday, April 28, signed a memorandum of understanding (Mou) with Respilon Group to work on nanofiber-based drug delivery technologies, according to an exchange filing.

"Sigachi Industries Limited, a leading player in pharmaceutical industry is pleased to announce that its wholly owned subsidiary, Sigachi MENA FZCO, has signed a Memorandum of Understanding (MoU) with Respilon Group s.r.o to advance nanofiber-based drug delivery technologies," said the company in the BSE filing.

According to the filing data, the company aims to leverage Respilon's patented nanofiber techno...