Eris Lifesciences hits an all-time high on the back of strong Q2 results; here's what Anil Singhvi says about it

Eris Lifesciences Share Price: Eris Lifesciences shares had a rousing start to its trading session on Thursday (November 9, 2023) on BSE as they hit an all-time high of Rs 936 each. The stock's sparkling performance came on the back of the company reporting excellent results for the September quarter on Wednesday.

The stock of the pharma company was trading higher by 3.99 per cent, or Rs 35.80, at Rs 933.40 on Thursday.

Eris Lifesciences on Wednesday also announced buying dermatology and nephrology branded formulation businesses from Biocon Biologics for Rs 366 crore.

Eris Q2 results

The company on Wednesday posted a 2.51 per cent year-on-year (y-o-y) jump in profit after tax (PAT) for the September quarter reaching .

The pharma firm reported a 9.7 per cent rise in its consolidated revenue from operations, which came in at Rs 505.3 crore as against Rs 460.5 crore in the second quarter of last fiscal.

On a quarter-on-quarter basis, the company posted an 8.29 per cent jump in revenue, along with a PAT which soared 30.17 per cent.

What Anil Singhvi says about Eris Lifesciences 

Zee Business Managing editor Anil Singhvi gives the target of Rs 915, 930 and 940 for the Eris Lifesciences stock at a stop-loss of Rs 870.