The micro-cap stock surged 19% on Friday after receiving approval to migrate from the BSE SME Platform to the main boards of both BSE and NSE.
Share price variations:
With a market capitalization of Rs. 558.95 crores, Indo US Bio-Tech Ltd shares opened the trading session at Rs. 299.95, nearly 7.60% higher than the previous day’s close of Rs. 278.75. The stock reached an intraday high of Rs. 331.35, representing a 19% increase from the previous close and was closed at Rs. 295.10..
Reason for Rise:
According to exchange filings, Indo US Bio-Tech Ltd has received approval from both BSE and NSE to trade on the main boards, effective September 27, 2024. Previously, the shares were traded only on the
Recent Developments:
Earlier this September the company entered into a Memorandum of Understanding with Maharana Pratap University of Agriculture and Technology for Pratap Hybrid Maize -6 seeds.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 33.75% to Rs. 3.17 crores compared to net profit of Rs. 2.37 crores in Q1FY24, while revenue from operations increased by 29.15% to Rs. 24.72 crores from Rs. 19.14 crores in comparison to the same period.
The stock has delivered a 50.50% return over the past six months. Company has a ROE of 14.07% and ROCE of 14.18% in FY24.
About the company:
Incorporated in 2004, Indo US Bio-Tech Ltd is engaged in production and processing of commercial and vegetable seeds. Company undertakes activities relating to crop research & development through breeding, production of seeds, processing, packing and marketing of high performing hybrid and open pollinated varieties of agricultural crops.
Written By: Joseph Pv
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