Cohance Lifesciences share price jumps over 8% after block deal
Cohance Lifesciences rose as much as 8.5 per cent to the day's high of ₹331.20 on the National Stock Exchange (NSE) following a block deal
 "Cohance Lifesciences share price jumps over 8% after block deal")
Cohance Lifesciences share price today
Cohance Lifesciences share price jumped over 8 per cent on Monday, fueled by a high-volume block deal worth ₹235.6 crore. The scrip rose as much as 8.5 per cent to the day’s high of ₹331.20 on the National Stock Exchange (NSE).
As of 10:15 AM, Cohance Lifesciences stock was trading 2.6 per cent higher at ₹313.50 per share, as compared to a 0.6 per cent advance in the Nifty 50 index. Around 0.7 million shares of the company changed hands on NSE so far.
In the last 12 months, Cohance Lifesciences share price has declined 74.5 per cent, as against a 13 per cent rise in the Nifty 50 index. CATCH STOCK MARKET UPDATES TODAY LIVE
Why did Cohance Lifesciences share price rise today?
Cohance Lifescience share price rose after 7.7 million shares or 2 per cent equity changed hands in a block at an average traded price of ₹306 per share on NSE, according to data on Bloomberg.
No information about buyers and sellers was available at the time of writing the story.
This was the second such large trade since last week. On February 18, promoter Jasti Family Trust sold a total of 14 million shares or 3.7 per cent equity of Cohance Lifesciences at ₹309. Jasub Property Holdings LLP bought was the buyer, according to data on NSE.
Cohance Lifesciences has a total of 382.5 million shares outstanding, of which 57.49 per cent are owned by the promoters.
Cohance Life Q3 results
Last week, Cohance Lifesciences reported 76.1 per cent Y-o-Y decline in its consolidated net profit to ₹36.72 crore in the third quarter (Q3FY26) from ₹153 crore in the same quarter a year ago.
Revenue from the operations decreased 19.5 per cent on year to ₹544.55 crore in the quarter under review from ₹676.2 crore in the same quarter of the previous fiscal.
Inventory de-stocking for the two large commercial products weighed on the company’s third-quarter performance, according to the investors' presentation. ALSO READ | Narayana Hrudayalaya up 3% on 3.3-acre Bengaluru land buy for expansion
Technical view: 'Sell on rise'
Vipin Kumar, assistant vice president, technical and derivatives research analysts at Globe Capital Market, said that Cohance Lifesciences has witnessed a sharp decline from ₹1,360 to ₹303 over the past 15 months with a lower-low, lower-high formation.
The stock has reached a price support zone of ₹300–₹280, and the possibility of a minor bounce-back cannot be ruled out at this stage, he said. "The chart structure, however, points toward a "sell on rise" approach as long as it trades below ₹400," the analyst added.
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