Cohance Lifesciences shares gain 11% after 7 million shares change hands

In the previous session, Cohance Lifesciences hit a 52-week low of ₹303.5 on the National Stock Exchange (NSE)

Cohance Lifesciences share price today

 

Cohance Lifesciences share price jumped 10.5 per cent on Wednesday to an intraday high of ₹341.90 on the National Stock Exchange (NSE). Notably, the stock hit a 52-week low of ₹303.5 in the previous session.  

As of 11:30 AM, Cohance Lifesciences stock pared some gains and was trading 6.2 per cent higher at ₹330, as compared to a 0.15 per cent decline in the Nifty 50 index. Around 4.8 million shares of Cohance Lifesciences have, so far, changed hands.  

In the last 12 months, Cohance Lifesciences share price has decreased 69.3 per cent, as compared to a 12 per cent advance in the Nifty 50 index.

Why did Cohance Lifesciences share price rise today?

Cohance Lifesciences share price rose on Wednesday after seven million shares or 1.8 per cent of its total outstanding equity changed hands at ₹309 per share, according to Bloomberg data.  

No information about buyers and sellers were available at the time of writing the story. 

Cohance Lifesciences has a total of 382.5 million shares outstanding. Out of these, promoters control 57.49 per cent, and the public owns 42.51 per cent.  FOLLOW LATEST STOCK MARKET UPDATES TODAY LIVE

Cohance Life Q3 results

Last week, Cohance Lifesciences reported that its consolidated net profit declined 76.1 per cent Y-o-Y 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 third quarter from ₹676.2 crore.

Inventory de-stocking for the two large commercial products weighed on the company’s third-quarter performance, according to the investors' presentation.

Check the details of Cohance Lifesciences Q3 results.

Technical View

The overall trend remains negative, though momentum indicators are now deeply oversold, which could lead to a short-term technical bounce, said Jigar S. Patel, senior manager, equity technical research at Anand Rathi Share and Stock Brokers. 

Going ahead, Anand Rathi Share and Stock Brokers expects the stock to consolidate in the ₹300–₹400 range over the next one to two months. A meaningful recovery and fresh bullish setup would only be considered on a decisive weekly close above ₹400; until then, the bias remains cautious, he added. 

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