Arrow Greentech rose 1.28% to Rs 527.40 at 12:25 IST on BSE, extending yesterday's gains triggered by the company securing patent for manufacturing embedded water soluble film carrier in US.
Meanwhile, the S&P BSE Sensex was up 97.47 points, or 0.29% to 33,685.55.On the BSE, 3,557 shares were traded in the counter so far, compared with average daily volumes of 12,737 shares in the past one quarter. The stock had hit a high of Rs 531.80 and a low of Rs 517.85 so far during the day. The stock hit a 52-week high of Rs 715 on 7 September 2017. The stock hit a 52-week low of Rs 417 on 22 March 2017.
The stock had underperformed the market over the past 30 days till 23 November 2017, falling 3.89% compared with 1.65% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 9.04% as against Sensex's 6.30% rise. The scrip had also underperformed the market in past one year, rising 12.44% as against Sensex's 29.88% rise.
The small-cap company has equity capital of Rs 11.74 crore. Face value per share is Rs 10.
Arrow Greentech (AGTL) said it has received a grant for patent titled "method of manufacturing embedded water soluble film carrier" Patent No. 9744695 dated 29 August 2017, from United States of America Patent Office.
This invention relates to a water-soluble film (WSF) system with actives embedded/entrapped therein to provide precise and desired release of pharmaceutical actives there from and its method of manufacturing for diverse applications.
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The announcement was made after market hours on Wednesday, 22 November 2017. Shares of Arrow Greentech jumped 7.54% to settle at Rs 520.75 yesterday, 23 November 2017. The stock has risen 8.91% in two sessions from its close of Rs 484.25 on Wednesday, 22 November 2017.
On a consolidated basis, net profit of Arrow Greentech declined 43.01% to Rs 4.93 crore on 18.46% rise in net sales to Rs 14.63 crore in Q2 September 2017 overe Q2 September 2016.
Arrow Greentech (formerly known as Arrow Coated Products) is engaged in manufacturing bio-degradable water soluble film.
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