In just one month, the stock has more than doubled investor wealth and soared by over 100%!
India’s headline index closed sharply lower on Friday, heavily dragged by declines in power, utilities and oil and gas sectors. BSE Sensex closed down 1.45% to his 59,330 level. The Nifty 50 index fell 1.61% to a level of 17,604.
Despite market weakness, medical stocks performed well, with the BSE Healthcare Index ending the session 0.5% higher, led by Unichem Laboratories Ltd.’s 10% gain. multi bagger small cap The stock attracted investors with a back-to-back upper circuit.
On an intraday basis on Friday, Eiko Lifesciences Ltd shares surged, locking in the 5% upper circuit at Rs 96.20 per share on the BSE to set a new 52-week high. In just one month, the stock has more than doubled the investor’s wealth and soared by more than 100%!
Considering the company’s financial performance, it is reported to have increased significantly from a loss of Rs.06 crore to a profit of Rs.026 crore in Q3 FY2023. The company recently announced that its board of directors will meet on January 31, 2023 to consider a funding proposal.
Eiko Lifesciences Ltd is a global manufacturer, supplier and exporter of specialty chemicals and pharmaceutical intermediates.
Keep an eye on this script for future sessions.