Multibagger Stock: Shares of Aarti Drugs had ended lower in Tuesday’s session, but after the Directorate General of Trade Remedies (DGTR) accepted the drug maker’s application after completing its probe, the demand for imposition of anti-dumping duty on Chinese exports of ofloxacin. After the news – better known as fluoroquinolones. Antibiotic. The stock of Aarti Drugs opened with a big reversal today and reached intraday high. At 489.95 levels on the NSE, jumping over 12 per cent over Tuesday’s close 423.15 Each level.
According to Share Market According to experts, the shares of Aarti Drugs are rallying after news of DGRT completing its probe on Aarti Drugs’ application seeking anti-dumping duty on Ofloxacin import from China. The drug maker in its application had sought imposition of anti-dumping duty on the drug to provide equal opportunity to the company and its domestic partners. DGTR had accepted his plea and now he has completed his investigation. However, market experts say that DGTR is yet to give its final decision, but the stock has given fresh breakout above the chart pattern. 450 each level. He said anyone can buy this pharma stock around 460 for the short term target of Maintaining Stop Loss at 532 440 level.”
Speaking on the reason for the rise in Aarti Drug share price, Saurabh Jain, Vice President – Research at SMC Global Securities said, “This rise in pharma stock is due to the fresh break of DGTR to end its probe on Aarti Drugs application. Imposition of anti-dumping duty on imports of Ofloxacin from China.As DGTR has completed its report, the market is discussing some favorable outcome of this investigation.However, one must wait for the final proposal of DGTR The company has reported loss in operating margin on both QoQ and YoY basis.”
GCL Securities CEO Ravi Singhal advised positional investors to wait for profit booking as the stock has already gained over 12 per cent. 450 each level and it has almost made its base 450 levels. So, one should wait for some profit booking and buy 460 each level for the short term target of Maintaining Stop Loss at 532 440 per share mark.”
Aarti Drugs shares are one of the multibagger stocks that the Indian stock market has produced over the years. Over the last 5 years, this pharma stock has been around . has grown from from 125 475 each level, reaching close to 275 percent over the period.
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