India's Ami Organics jumps on swinging to Q2 profit

Acutaas Chemicals

29/10/2024 07:50

** Shares of Ami Organics  AMIO.NS  surge 11.4% to 1,795.05
rupees, their highest in a month 
** Pharma intermediates maker reported Q2 consol net profit of
373.3 mln rupees ($4.4 mln) from loss 188.5 mln rupees a year
ago
    ** Profit growth driven by strong performance in pharma
intermediates and specialty chemicals business, co said 
    ** Raises revenue guidance for FY25 to 30% from 25% earlier 
    ** Stock eyes busiest trading session since mid-September,
volumes at 4.7x the 30-day avg 
    ** Analysts' avg rating on stock is "Buy", median PT is
1,600 rupees - LSEG data 
    ** Stock up ~60% YTD 
     
    ($1 = 84.0750 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)
((mailto:Manvi.Pant@thomsonreuters.com; +918447554364;))