Indrayani Biotech share price gained over 2% on Wednesday, bouncing back from an over 4% fall in the previous session. Indrayani Biotech shares have risen in seven of the last eight sessions.
Indrayani Biotech stock price has rallied over 10% in one week, but has fallen over 17% in three months and nearly 30% year-to-date (YTD). However, penny stock has given multibagger returns over the long term.
In the past five years, Indrayani Biotech shares have jumped 851%, while the penny stock is up 1,200% in seven years.
On BSE, Indrayani Biotech stock hit a 52-week high of ₹99.70 apiece on January 20, and a 52-week low of ₹35.00 on October 28.
Recently, stock exchanges sought clarification from the company on the share price movement. The company said it had been disclosing all the material events, information, announcements from time to time that may have bearing on the operations/performance of the Company, including any price sensitive information, as required by the SEBI regulation.
“We would like to further clarify that there is no pending material information/announcement to be made as of date which have a bearing on the price/volume movement of the Company or which requires disclosures in accordance with the regulatory requirements. We assume that the movement in the share price of the Company is purely market driven and the Company has no role to play in this regard,” Indrayani Biotech said in a BSE filing on November 5.
Indrayani Biotech reported net sales of ₹31.53 crore in the quarter ended June 2024, registering a fall of 25.49% from ₹42.31 crore in the same quarter last year. The company’s net profit in Q1FY25 jumped to ₹0.85 crore from ₹0.21 crore, year-on-year (YoY).
At 12:40 PM, Indrayani Biotech shares were trading 1.57% higher at ₹45.37 apiece on the BSE.
