India's Hester Biosciences hits 1-month high on Q3 profit jump

Hester Biosciences

31/01/2023 08:08

** Shares of poultry and animal healthcare company Hester
Biosciences Ltd  HEST.NS  rise as much as 9% to 1,925 rupees,
highest level since Dec. 26
    ** Stock posts biggest intraday pct climb since Dec. 26
    ** Co's consolidated net profit rose 32% to 111.9 mln rupees
($1.37 million) from 84.8 mln rupees ($1.04 million) a year ago
    ** Co says demand for Goat Pox vaccine increased in Q3 to
control outbreak of Lumpy Skin Disease (LSD) in cattle
    ** Co entered an agreement with Bharat Biotech to
manufacture Drug Substance for Covaxin; facility to be ready for
commercial ops by end of current financial year
    ** Nearly 24,000 shares traded as of 1:29 p.m. IST, 8.7X the
30-day moving average
    ** Stock fell 20.2% in 2022, snapping three-year streak of
gains
($1 = 81.7300 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))