India's Orchid Pharma hits over 2-1/2-yr high on Q3 profit surge

Orchid Pharma

09/02/2024 05:13

** Shares of Orchid Pharma  ORCD.NS  rise as much as 17.7%
to 1,036.1 rupees, highest since June 25, 2021
    ** The pharma co reported a near four-fold surge in Q3
consolidated profit, income from ops up 38% Y/Y
    ** Stock set to log gains for fourth consecutive session, if
trend holds
    ** More than 1.1 mln shares change hands, 4.5x its 30-day
avg
    ** ORCD trading above its 50-day, 100-day and 200-day simple
moving averages since November
    ** Stock up 21% for the week, on track for biggest weekly
gain since April 8, 2022


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))