Windlas Biotech stock climbs over 4% after ICICI Prudential MF raises stake

Shares of Windlas Biotech rose over 4 per cent amid a falling market today after its investor ICICI Prudential MF raised stake in the firm. The stock opened higher at Rs 262 against the previous close of Rs 261.60 on BSE. Windlas Biotech shares further zoomed 4.66 per cent to Rs 273.8 on BSE.

The stock is trading higher than five-day, 20-day, 50-day and 100-day moving averages but lower than 200 day moving averages. It has lost 3.51 per cent in 2022. However, it has gained 12.74 per cent in a week.

Total 0.24 lakh shares of the firm changed hands amounting to a turnover of Rs 63.58 lakh on BSE.

Market cap of the firm rose to Rs 581.36 crore on BSE.

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The stock hit a 52-week high of Rs 452.10 on August 16, 2021 and a 52-week low of Rs 208.90 on March 31, 2022.

ICICI Prudential MF bought 32,871 shares in the company via open market transactions on April 19. With this, its shareholding in the company has increased to 7.26 percent from 7.11 percent earlier.

For the quarter ended December 2021, the company posted a 32.30 per cent fall in standalone net profit at Rs 8.32 crore against Rs 12.29 crore profit in the corresponding period last year.

Sales rose 0.33 per cent to Rs 117.59 crore in Q3 against Rs 117.20 crore in the same period last year. Operating profit excluding other income came in at Rs 13.05 crore, falling 25 per cent in Q3 against Rs 17.39 crore in the December quarter of 2020.

Windlas Biotech provides a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics, in compliance with current Good Manufacturing Practices with a focus on improved safety, efficacy and cost.