Hikal shares advance 12%, hit 52-week high on growth prospects

For the April-June quarter (Q1FY21), Hikal reported a 25 per cent year-on-year (YoY) decline in its consolidated profit before tax (PBT) at Rs 27.50 crore.

Shares of Hikal moved higher by 12 per cent to Rs 186.85, also its record high on the BSE on Thursday, on growth prospects of the company. In comparison, the S&P BSE Sensex was down 0.78 per cent at 38,995 points at 03:02 pm. The stock surpassed its previous high of Rs 182.40, touched on August 26, 2020. It was trading close to its record high of Rs 207, hit in September 2018.

Looking forward, the company is witnessing improvement in capacity utilisation and higher volume off-take by its customers for both pharmaceuticals and crop protection divisions. The management said it