Aarti Drugs spurts 28% in five days

Aarti Drugs hit an upper circuit of 5% at Rs 937.75, extending gains for the fifth day in a row.

The scrip was currently frozen at its record high level of Rs 937.75. It has added 27.6% in five sessions from its recent closing low of Rs 734.89 on 29 September 2020.

On a year-to-date (YTD) basis, the stock has zoomed 548.18% while the benchmark S&P BSE Sensex lost 3.42% during the same period.

On the technical front, the stock is currently trading above its 50-day, 100-day and 200-day simple moving averages (SMA) placed at 675.11, 484.77 & 322.74, respectively.

The scrip's RSI (relative strength index) stood at 67.356. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

Aarti Drugs is a pharmaceutical company. The company has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups. With its manufacturing facilities at Tarapur and Sarigam, the company manufactures vitamins, anti-arthritis, anti-fungal, antibiotics, ACE inhibitors, besides its range in anti-diabetic, anti-cholinergic, sedatives and anti-depressant drugs.

The drug maker's consolidated net profit surged 280.60% to Rs 85.45 crore on a 34.3% jump in net sales to Rs 544.67 crore in Q1 June 2020 over Q1 June 2019.

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