 "Amrutanjan Health Care zooms over 50% in three days")
Amrutanjan Health Care has zoomed 17% to Rs 452, also its record high on BSE, on back of heavy volumes.
The trading volumes on the counter surged over five-fold with a combined 2.51 million shares representing 17% of total equity of the company changed hands till 1205 hours on NSE and BSE.
In past three trading sessions, the stock rallied 51% from Rs 300 on November 18, as against to 0.32% rise in the benchmark S&P BSE Sensex.
The company engaged in OTC and beverages business had reported 38% year on year (yoy) growth in net profit at Rs 4.1 crore for the quarter ended September 2014. Net sales grew 24% to Rs 40.88 crore on yoy basis.
Amrutanjan Health Care said the volume growth and pricing power has driven the top line improvement of OTC business. The OTC business accounts 92% of total turnover of the company.
“We foresee a need to increase brand investments to sustain growth”, it added.
The trading volumes on the counter surged over five-fold with a combined 2.51 million shares representing 17% of total equity of the company changed hands till 1205 hours on NSE and BSE.
In past three trading sessions, the stock rallied 51% from Rs 300 on November 18, as against to 0.32% rise in the benchmark S&P BSE Sensex.
The company engaged in OTC and beverages business had reported 38% year on year (yoy) growth in net profit at Rs 4.1 crore for the quarter ended September 2014. Net sales grew 24% to Rs 40.88 crore on yoy basis.
Amrutanjan Health Care said the volume growth and pricing power has driven the top line improvement of OTC business. The OTC business accounts 92% of total turnover of the company.
“We foresee a need to increase brand investments to sustain growth”, it added.