Accordingly, if an investor invests in shares four years back Rs. 10,000 and invested, the investment would have gone up to Rs 2.7 lakh, according to an analysis by ET Markets.
However, in the recent past, the rally has been fixed. For instance, over the past six months, shares have risen just 6% and year-to-date are up nearly 12%.
The company is engaged in manufacturing, developing and marketing a range of generic formulations and branded products and exports to overseas markets.
Its products include tablets, dry syrups (bottles), soft gels, capsules, suppositories, liquid syrups (bottles), liquid injectables in ampoules and vials, lyophilized vials, prefilled syringes (PFS), emulsion injections in ampoules and vials, Oprath drops. Pre-mix bags, topicals and sachets (liquid and powder).
The company also manufactures a range of ointments, creams, gels and lotions. Its main research and development facilities are in Tamil Nadu and the manufacturing facility is in Puducherry. It has a presence in the US and European region with presence in Latin America (LATAM), South Africa and Francophone Africa.
As per the shareholding pattern available with the exchanges, promoters hold a majority of 70.62% of the company, while public shareholders own the remaining 29.38%.
Among public shareholders, mutual funds hold just over 1% stake in the company, while foreign investors held around 3.13% at the end of the March quarter.
In the latest March 2024 quarter, the company’s standalone revenue from operations stood at Rs. 144 crores down to Rs. 139 crores.
Meanwhile, consolidated profit after tax (PAT) in the fourth quarter rose to Rs. 86.91 crore which in the previous year period was Rs. 70.77 crores.
Technical Forecast – What Should Investors Do?
Technical analysis shows that the stock has given a breakout from the lateral consolidation earlier this month, with strong volume on the daily chart.
“Momentum indicator RSI also indicates positive momentum. Further, our stock is consistently outperforming the benchmark indices. Based on these indices, we expect continued upward momentum. Investors may consider buying the stock with a stop loss at 1370. Range of possible upside targets between 1800 to 2000 levels,” said Milin Vasudev, senior technical analyst at Arihant Capital.
With data inputs from Ritesh Preswala
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)
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