Strides Arcolab Ltd’s Q2FY17 consolidated net profit rises 106.73% yoy to Rs.74.1 crore

india infoline-Strides Q2FY17 revenues were in line with our estimates on all fronts. Overall revenue for Q2 grew by 33% YoY to Rs.946 Crs. EBITDA grew 42%YoY and margins were 18% up by 110 bps YoY Reported adjusted PAT was at Rs.82.6 Crs Regulated Markets & Institutional business continue to deliver healthy growth with an improved sequential performance with higher revenue base. Strides Shasun Ltd
Technical View: Strides Shasun Ltd is currently trading at Rs. 994.8, up by 55.05 points or 5.86% from its previous closing of Rs. 939.75 on the BSE.
The scrip opened at Rs. 939.35 and has touched a high and low of Rs. 1001.25 and Rs. 937.5 respectively. So far 822909(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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