Bonus issue fails to lift Ajanta Pharma; stock hits 52-week low on weak Q4

In Q4FY22, Ajanta's earnings before interest, taxes, depreciation, and amortization declined 20 per cent year-on- year to Rs 207 crore.

Shares of Ajanta Pharma hit a 52-week low of Rs 1,593, down 4 per cent on the BSE in Wednesday’s intra-day trade due to weak operational performance for the quarter ended March 2022 (Q4FY22). The board of directors has approved a bonus issue in the proportion of 1:2 equity share of Rs 2 each.

The stock was quoting lower for the sixth straight trading day, falling 12 per cent during this period. At 11:58 am; it was trading 2.5 per cent lower at Rs 1,616, as compared to a 0.61 per cent decline in the S&P BSE Sensex.