Aarti Drugs locks in at lower circuit; declines by more than 30 per cent in past few weeks
The stock of Aarti Drugs fell by more than 30 per cent since October 8, 2020. On Tuesday, the shares of the company locked in at its lower circuit of 5 per cent at Rs 675.80 per cent.
The multibagger stock, which gained by more than 250 per cent in the last six months, is down by nearly 16.6 per cent since the beginning of October 2020.
Aarti Drugs, which used to be a penny stock back in the early 2010s, is now seen trading between the price range of Rs 500 and Rs 850 per share.
Recently, the company announced fundraising for an aggregate amount of up to Rs 350 crore.
For Q2FY21, the company reported a 21.07 per cent increase in its net sales to Rs 578.11 crore while net profit gained rose by 132.96 per cent to Rs 75.27 crore in Q2FY21 from Rs 32.31 crore in Q2FY20.
The company also recommended an interim dividend of Rs 2.5 per equity share and fixed November 4, 2020, as the record date for the purpose of payment of interim dividend.
Aarti Drugs Limited is a pharmaceutical company offering active pharmaceutical ingredients (APIs) in a range of therapeutic categories, such as anti-inflammatory, cardioprotectant, antifungals, antibiotics, antidiabetic, sedative, and vitamins