Strides Pharma extends rally; soars 64% in two months; hits 52-week high

The company reported strong performance across all businesses in Q1FY21 despite significant disruptions and ambiguity in the business environment due to Covid 19.

Shares of Strides Pharma Science have moved higher by 13 per cent to Rs 689, also its 52-week high on the BSE on Friday in otherwise subdued market, on heavy volumes.

In the past two months, the stock has rallied 64 per cent after the company reported strong performance across all business segments in the April-June 2020 quarter (Q1FY21) despite significant disruptions and ambiguity in the business environment due to Covid 19. The company delivered healthy operating leverage that led to a 920 basis points sequential EBITDA (earnings before interest, taxes, depreciation, and amortization) margin expansion with superior cash