Breakout stock: Shivalik Rasayan trades at all-time highs after jumping higher by more than 11 per cent

Shivalik Rasayan share price jumped by Rs 100 per share on Friday trading session on an intraday basis.

The shares of Shivalik Rasayan were seen trading higher by more than 11 per cent on Friday even as the stock comes out of its one month long consolidation with a huge spike in volume. 

Shivalik Rasayan share price jumped by Rs 100 per share on Friday trading session on an intraday basis. The share price of Medicamen Biotech was also seen trending up, higher by more than 7 per cent on Friday on an intraday basis. Medicamen Biotech is a subsidiary of Shivalik Rasayan. Shivalik Rasayan has jumped higher by 110 per cent in 2021 alone while in past one year the shares of Shivalik Rasayan have gained by 105 per cent. In one month alone the stock has gained by 34.54 per cent. Shivalik Rasayan made a 52 week high in July second week and since then has been in consolidation mode. 

The breakout in Shivalik Rasayan is seen with a spike in volume on Friday. There are multiple triggers working in favour of the company , including commissioning of the new manufacturing plant.

The company is into manufacturing of agrochemicals and in 2015 it forayed into pharmaceuticals. The company acquired Medicamen Biotech Limited in 2015 which is engaged in manufacturing pharmaceutical formulations.