Advanced Enzyme Tech freezes at 20% upper circuit; stock hits 52-week high

The company may benefit from an increase in healthcare spending in the US and India.

Shares of Advanced Enzyme Technologies were frozen at the upper circuit of 20 per cent at Rs 272.80, also its 52-week high on the BSE on Thursday, in an otherwise weak market. The S&P BSE Sensex was down 1.78 per cent at 36,998 points at 01:05 pm.

The trading volumes on the counter more-than-tripled with a combined 6.7 million equity shares changing hands. There were pending buy orders for around 740,000 shares on the NSE and BSE.

Advanced Enzyme Technologies is a leading specialtiy biotech company, with global leadership in the manufacturing of enzymes. In April-June 2020 quarter (Q1FY21), the company reported