Shares of this micro-cap company hit upper circuit as it announces their business expansion!
On Monday, shares of the company surged by 19.97 per cent and reached its upper circuit of Rs 27.64. Moreover, the stock had a spurt in volume by more than 12.64 times.
Ambalal Sarabhai Enterprises Limited is engaged in manufacturing Pharmaceuticals.
Asence Pharma Pvt Lt, a subsidiary of Ambalal Sarabhai Enterprises Ltd has recently inaugurated its new oncology and synthetic API plant located in Ranoli, Vadodara. The newly established API plant adheres to both domestic and international regulatory standards and focuses on manufacturing niche molecules that possess a global demand.
Specializing in the supply of high-quality pharmaceutical preparations (Bulk drugs and formulations), Asence Pharma Pvt Ltd caters to both domestic and international markets. Asence through its operations in India and USA, markets and distributes pharmaceutical preparations worldwide and has more than 100 registered products internationally with an impressive pipeline and capability for development of new medicines.
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The company has given great returns of 81 per cent over the past 3 years and have given excellent returns of 122 per cent over the past 5 years. Additionally, the company has been able to grow its sales at 6 per cent (CAGR) for the last 5 years and the profit grew by 26 per cent (CAGR) for the same period.
On Monday, shares of the company surged by 19.97 per cent and reached its upper circuit of Rs 27.64. Moreover, the stock had a spurt in volume by more than 12.64 times.
Investors should keep a close eye on this trending multibagger stock.