India's Ami Organics soars after Q3 profit more than doubles

Acutaas Chemicals

29/01/2025 06:16

** Shares of Ami Organics  AMIO.NS  surges 16.4% to 2,199
rupees
    ** Pharma co says its Q3 consol net profit more than doubled
Y/Y to 449.5 mln rupees ($5.2 mln), rev from ops rose 65.2% Y/Y 
    ** Rev from AMIO's advance intermediates segment, which
forms the bulk of Q3 rev, rose ~86% Y/Y
    ** Stock on track to snap three consecutive sessions of
losses, if trend holds
    ** Share price currently above 50-day, 100-day and 200-day
exponential moving averages    
    ** More than 1.8 mln shares change hands, 6.9x of 30-day avg
    ** Avg rating of analysts equivalent of "strong buy", median
PT is 2,250 rupees - LSEG data    
    ** Stock rose 91.5% in 2024 vs 16.2% gains in 2023




($1 = 86.5650 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))