India's Aarti Drugs surges on Q1 profit rise and share buyback

Aarti Drugs

24/07/2023 07:53

** Shares of Aarti Drugs  ADRG.NS  rise as much as 19.1% to
607.9 rupees, highest level since Dec. 13, 2021 
    ** Stock posts biggest intraday pct gain since March 20 
    ** Pharmaceutical company's June-qtr consolidated net profit
rises 37.5% to 478.5 mln rupees ($5.84 mln) 
    ** Rev from ops rose 6.3% to 6.61 bln rupees 
    ** Board approves buyback of shares worth upto 598.5 mln
rupees at 900 rupees apiece
    ** More than 8.5 mln shares traded by 12:22 p.m. IST, 20.4x
the 30-day avg
    ** As of last close, stock up nearly 11% YTD 

($1 = 81.8860 Indian rupees) 

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))