Stock To Watch: Watch out for Shilpa Medicare as it announces 1QFY22 results on Friday

The shares of Shilpa Medicare will be in focus on Friday as the company will be declaring its quarterly results. More importantly the stocks will be in limelight as the PE major CVC Capital Partners in believed to be in talks to pick up minority stake in Shilpa Medicare’s API business. 

The share price of Shilpa Medicare jumped by 3 per cent on closing basis on Thursday trading session with almost all the gains recorded in the last 30 minutes of the session. Closing they say is the most important price action that one has to pay attention to. 

A big green candle was seen in Shilpa Medicare daily charts after three consecutive down days. This indicates a trend reversal of sorts for Shilpa Medicare. The share price of Shilpa Medicare has been flat in the past one month and also in the past one year the Shilpa Medicare share price has remained flat. In 2021 however the share price of Shilpa Medicare have risen by more than 36 per cent. 

Shilpa Medicare is engaged in the business of high quality Active Pharmaceuticals Ingredients (APIs), Intermediates, Formulations, New Drug delivery system, Peptides, Biotech products, and Specialty chemicals using sophisticated technology. Shilpa Medicare is one of the worlds leading suppliers of Oncology/ Non Oncology API's and intermediates.