Bajaj Healthcare Gains Nearly 30% In Six Sessions

Shares of Bajaj Healthcare rose over 5% and are on course to extend winning streak for sixth day. The stock has gained 29% over the period.

  • Bajaj Healthcare enters the opiate processing business.
  • Bajaj Healthcare has entered the highly-regulated opiate processing business, becoming the first private player in India to do so.
  • The firm has won two contracts – to manufacture alkaloids and APIs from 500 MT of unlanced poppy capsule along with straw and 100 MT of opium gum on an annual basis.
  • Both tenders to be executed at the API manufacturing unit located at Savli, Gujarat.
  • Trading volume is 31 times the 30-day average volume. The relative strength index of the stock is 76, suggesting it may be overbought.

Source: Exchange filing, Bloomberg

Leave a Comment

Copy link