Markets
BSE See NSE See 60,821.62
-101.88 (-0.17%)

Zydus Wellness witnesses pattern breakout post Q3 results

Bhagyashree Vivarekar
Rate this article:
4.0
Zydus Wellness witnesses pattern breakout post Q3 results

Yet another small-cap upstream stock Zydus Wellness surged as much as 7 per cent from its previous close. The stock has been rising almost continuously from February 6 onwards ahead of its Q3 result announcement. The stock has surged nearly 42 per cent from the low of February 6, making a kind of V pattern on the daily time frame.

The consolidated Q3 revenue came in at Rs 132.40 crores, registering QoQ and YoY growth of 28.4 per cent and 7 per cent, respectively. PAT remained flat at Rs 36.16 crore on QoQ basis amid higher operational costs while grew YoY at 43.5 per cent. On TTM basis too the company’s top and bottomline have grown at 14.9 per cent and 18 per cent, respectively predicting robust FY18 numbers. Otherwise also, the company has been paying good returns over years and is virtually debt-free which strengthens its position.

Coming back to the technicals, as stated earlier, the stock gave a ‘V’ pattern breakout on February 9, but consolidated for almost six trading sessions. However, on Tuesday, the stock broke out of consolidation and surged 8 per cent plus with volume spurt and 14-period RSI bouncing back and crossing the overbought zone. The stock may give some more upside going forward, for its V pattern target.

Previous Article Ten stocks close to their 52-week low
Next Article Markets in doldrums, Nifty just above its trendline support
Please login or register to post comments.

Get A Call From Industry Experts

Send Otp

   I authorize DSIJ Pvt Ltd to contact me. This will override registry on the NDNC.

DSIJ MINDSHARE

1345Last

Knowledge

1345Last