Astec Lifesciences share price jumped over 6 percent intraday on October 30 after the company declared its September quarter results.
The pharma company posted net profit which surged 238 percent to Rs 17.85 crore in the quarter ended September 2020 as against Rs 5.28 crore during the previous quarter ended September 2019.
Sales of the company was up 10.55 percent to Rs 155.00 crore in the quarter ended September 2020 as against Rs 140.21 crore during the previous quarter ended September 2019.
EBITDA came in at Rs. 31.05 crore in September 2020 up 81.58 percent from Rs. 17.10 crore in September 2019.
The stock was trading at Rs 1,159.65, up Rs 69.65, or 6.39 percent at 12:06 hours. It has touched an intraday high of Rs 1,185.00 and an intraday low of Rs 1,104.10.
It also witnessed a spurt in volume by more than 6.75 times and was trading with volumes of 35,268 shares, compared to its five day average of 6,478 shares, an increase of 444.41 percent.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. The company has zero promoter pledge and low debt.
However, Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.
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