Nath Bio-Genes (India) hits new high; stock soars over 50% in 8 days

The stock hit a new high of Rs 344, soared 56% from Rs 221 on May 31.

Nath Bio-Genes (India) has moved higher to its record high of Rs 344, up 6.5%, extending its seven-session long rally on the BSE.

Thus far in June, in the last eight trading sessions, the stock soared 56% from Rs 221, after the promoter Agri-Tech (India) sold more than 500,000 equity shares via open market. On comparison, the Nifty 50 index was down 0.11% during the period.

On Jun 1, 2017, Agri-Tech (India) had offloaded 517,000 shares representing 3.2% stake in agricultural products company at price of Rs 231.23 per share.

Dangi Alpana Sanjay, had purchased 497,453 shares at Rs 231 on NSE, the bulk deal data shows. CLICK HERE TO READ FULL REPORT.

The company engaged in seeds and bio-technology business had reported a net loss of Rs 2.18 crore for the quarter ended March 2017 as compared to Rs 3.59 crore in the corresponding quarter of previous fiscal.

For the entire financial year 2016-17 (FY17), it posted profit Rs 16 crore against Rs 14 crore in a year ago quarter.

At 02:16 pm; the stock was up 2.6% at Rs 331 on BSE, against 0.61% decline in Sensex. A combined 478,602 shares changed hands on the counter on BSE and NSE so far.