Moneycontrol
Last Updated : May 06, 2020 10:52 AM IST | Source: Moneycontrol.com

Astec Lifesciences shares surge 20% after robust profit growth; volumes zoom almost 3000%

There were pending buy orders of 12,033 shares, with no sellers available. It was trading with volumes of 17,540 shares, compared to its five day average of 579 shares, an increase of 2,928.31 percent.

 
 
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Share price of agrochemicals and pharmaceutical intermediates Astec Lifesciences surged 20 percent hitting upper circuit of Rs 519.75 per share on the BSE after the company's net profit zoomed 145.13 percent to Rs 31.18 crore in the quarter ended March 2020 as against Rs 12.72 crore during the previous quarter.

Sales rose 35 percent to Rs 180.57 crore in the quarter ended March 2020 as against Rs 133.76 crore during the previous quarter ended March 2019, the company said in a filing to the exchanges.

The stock has gained over 31 percent in the last 5 days and was quoting at Rs 519.75, up Rs 86.60, or 19.99 percent at 10:29 hours. There were pending buy orders of 12,033 shares, with no sellers available. It was trading with volumes of 17,540 shares, compared to its five day average of 579 shares, an increase of 2,928.31 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne Astec Lifesciences has zero promoter pledge with low debt. It is a high growth stock with promoters increasing shareholding with the technical rating being very bullish.

The Board of Directors at its meeting recommended a final dividend of 15 percent on the equity share capital of the company, i.e., Rs 1.50 per equity share of the face value of Rs 10 each for the financial year ended March 31, 2020, subject to the approval of the shareholders, it said in a filing to the exchanges.
First Published on May 6, 2020 10:52 am
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