The stock of an Indian pharma company has overtaken the cryptocurrency Bitcoin in terms of giving returns. This pharma company has given a bumper return of over 6,800 percent in just four months. In terms of returns, Orchid Pharma’s stock has surpassed not only bitcoin but also gold and commodities. In four months, Orchid Pharma’s stock has given more than 6,800 percent returns. Investors who would have invested Rs 1 lakh in it 4 months ago, their investment would have increased to Rs 68 lakh now.
On November 3, 2020, Orchid Pharma’s share price was Rs 18, its price has now increased to Rs 1245.39. In this way, the stock price increased by 6818 percent in just 4 months. In this period, the BSE benchmark index Sensex has given about 27 percent returns. At the same time, bitcoin has risen more than 200 percent.
Stocks reach 52-week high
On Tuesday, Orchid Pharma’s share price rose to a new 52-week high of Rs 1,245.30. Today there is an upper circuit of 5 percent in the stock. Even on Monday, the stock had an upper circuit of 5 percent. Let us know that since the listing on the stock exchange on November 3, the stock has been on the upper circuit every day.
Dhanuka Labs acquires Orchid Pharma
Let us know that Dhanuka Labs acquired Orchid Pharma under NCLT resolution. The Chennai-based pharmaceutical company’s market cap rose to Rs 5,082.87 crore.
According to the shareholding pattern, Dhanuka Lab’s stake in Orchid Pharma is 99.96 percent and that of financial institutions is 0.04 percent.
Financial position of the company
In the quarter ended December 31, 2020, the pharma company incurred a loss of Rs 45.33 crore. Whereas in December 2019, the company had a loss of 34.75 crores. At the same time, sales of the company declined by 20.18 percent to Rs 102.63 crore in December quarter, while in December 2019, sales were Rs 128.58 crore.
