SMS Lifesciences hit a new high today at Rs.682.80, going up over 15.5%. Yesterday also, the stock had hit a new high with volumes, on both the days showing some extraordinary jump. Today, the volumes jumped up over 49 times.
The company has been on the investment radar of many fund houses ever since it announced a very good performance for Q2FY19. It reported a net profit of Rs.4.4 crore in current Q2 v/s Rs.1 crore in previous Q2. This jump was on a very robust 75% (YoY) jump in operational revenue at Rs.89 crore.
The company’s Unit 1 in Hyderabad, since 30 years of its operations, successfully completed a US FDA audit in April 2018. The same site also has received approvals Japan PMDA, Korea FDA, COFEPRIS Mexico and WHO GMP.