The company, a major player in anti-malarial drugs in Africa, saw its business decline by 49 percent in FY19 compared to the previous year due to softening of tender business.
The company had posted a net profit of Rs 94.49 crore for the corresponding period of the previous financial year, Ajanta Pharma said in a filing to the BSE.
Trends on SGX Nifty indicate a flat-to-negative opening for the broader index in India. The Nifty futures were trading around 11,591-level, down 0.5 point on the Singaporean Exchange.
Keynotes Financial Opiniery is bullish on Ajanta Pharma has recommended buy rating on the stock with a target price of Rs 1080 in its research report dated March 15, 2019.
The momentum indicator continued to outline weak trend with weekly RSI at 39 levels while MACD trades below its Signal-Line.
Motilal Oswal is bullish on Ajanta Pharma has recommended buy rating on the stock with a target price of Rs 1390 in its research report dated January 30, 2019.
Consolidated revenue from operations of the company stood at Rs 485.11 crore for the quarter, against Rs 587.05 crore for the corresponding period a year ago.
Good support for Nifty at 10840-10860. Till this level is intact one should trade with positive bias
Net Sales are expected to decrease by 11 percent Y-o-Y (down 3.9 percent Q-o-Q) to Rs. 522.6 crore, according to ICICI Direct.
Sumit Bilgaiyan of Equity99 said the Nifty has strong support at 10,825-10,745 levels and resistance at 10,945-11,035 levels
Ajanta Pharma has received tentative approval from the US Food and Drug Administration for the generic of Vesicare.
Equity markets around the globe have been under pressure on account of trade war fears, interest rate hike and valuation concerns
The company had posted a net profit of Rs 131.89 crore in the year-ago period, Ajanta Pharma said in a filing to BSE.
Net Sales are expected to decrease by 4.4 percent Y-o-Y (up 1.1 percent Q-o-Q) to Rs. 516.6 crore, according to ICICI Direct.