Shivalik Rasayan Stock Performance Surge
On October 3, 2024, Shivalik Rasayan captured the attention of investors as its share price surged by an impressive 14% intraday. This significant jump came on the heels of the US Food and Drug Administration (FDA) granting approval for the company’s Active Pharmaceutical Ingredient (API) manufacturing facility located in Dahej, Gujarat. The approval marked the successful completion of the USFDA inspection initiated on April 9 of this year, indicating a pivotal moment for the companyโs growth trajectory.
Intraday Movement and Share Price Details
Shivalik Rasayan shares opened at Rs 567.90 on the Bombay Stock Exchange (BSE) and quickly escalated to a peak of Rs 648.90, reflecting a 14.5% increase from the previous closing price. The stock operates under a 20% circuit limit, with an upper price band set at Rs 679.55, showcasing its volatility and investor interest.
Recent Trends and Market Capitalization
In the past two weeks leading up to October 3, Shivalik Rasayan experienced a notable increase of 12% in its share value. The company’s market capitalization currently stands at approximately Rs 900 crore. As of the end of June 2024, promoters held a considerable stake of 47.95% in the company. Over the past year, the stock has attained a 52-week high of Rs 776.55 and dipped to a low of Rs 498, underscoring its market volatility.
Financial Performance Overview
For the quarter ending June 2024, Shivalik Rasayan reported consolidated revenue of Rs 75.26 crore, marking a year-on-year increase from Rs 64.88 crore during the same period in the previous year. However, the company’s consolidated expenses also surged, rising to Rs 70.66 crore from Rs 57.38 crore in June 2023. Consequently, net profit experienced a downturn, falling to Rs 3.86 crore compared to Rs 6.48 crore the year prior, reflecting current challenges in managing costs amidst growing revenue.
Conclusion
The recent developments surrounding Shivalik Rasayan, including FDA approvals and impressive stock price movements, highlight both opportunities and challenges for investors. While the company is witnessing positive growth indicators, careful monitoring of its financial health, particularly expense management, will be crucial for sustaining profitability and maximizing shareholder value in the future.
