Shilpa Medicare up and down

Shilpa Medicare is showing a lot of volatility today; though the stock opened in the green and rose over 1% to Rs.267.85, from there it fell to an intraday low at Rs.257.55, down more than 3% currently.

Obviously, punters preferred to book partial gains, to take advantage of the rise in the price.

The only news on the counter is that its Board will be meeting on the 23rd of June to consider raising money through a rights issue.

The company, engaged in the manufacturing of active pharma ingredients, formulation and development service, for Q4FY23, reported a net loss of Rs.8 crore v/s net profit of Rs.29 crore (YoY) and loss of Rs.7 crore on a sequential basis.  Revenue for the quarter was down 23% at Rs.263 crore.

Obviously, punters preferred to book partial gains, to take advantage of the rise in the price.

The only news on the counter is that its Board will be meeting on the 23rd of June to consider raising money through a rights issue.

The company, engaged in the manufacturing of active pharma ingredients, formulation and development service, for Q4FY23, reported a net loss of Rs.8 crore v/s net profit of Rs.29 crore (YoY) and loss of Rs.7 crore on a sequential basis.  Revenue for the quarter was down 23% at Rs.263 crore.