Amid a heavy sell-off in the stock market, investors on Friday fell on shares of companies related to the pharma sector. The stock crossed the Rs 11,000 level on the last trading day of the week.
The stock rose nearly 20 percent to Rs 11,239.80, which had closed at Rs 9,373.10 a day earlier. The stock also has a 52-week high. In this way, the stock has increased by about 1800 rupees compared to a day earlier.
Let us tell you that the share closed at Rs 11073.40. In the last two days, the shares of this small cap pharmaceutical company have jumped by 27 percent. The stock has gained 83 percent in the past two months. At the same time, the stock has gained 725 percent in two years.
Shareholding pattern data shows that veteran investor Mukul Mahaveer Aggarwal also holds a large stake in Newland Labs. At the end of the June quarter, the company's stake was 3.12 percent, equivalent to 4,00,000 shares.
Let us tell you that promoters share is 32.72 percent and public shareholding is 67.28 percent. About the company, Newland Labs is a pharmaceutical manufacturer that provides active pharmaceutical ingredients (API), custom manufacturing solutions services to clients.
Newland Labs earned a revenue of Rs 444.4 crore in the June quarter. Profit after tax rose 58 percent year-on-year to Rs 98.3 crore from Rs 98.3 crore in the year-ago quarter. 62.2 crores.
Management said the company is firm that fiscal 2025 will be a year of revenue growth and thereafter margins will normalize as the company continues to invest.
Globally, Newland Labs operates in more than 80 countries and more than 78 percent of its total revenue comes from exports. America and Europe are its biggest export markets. This accounts for over 79 percent of its total exports.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. Failure to do so may result in financial losses.
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