Natco Pharma shares rose 3% in the early trade amid positive sentiment for the company. The company’s robust product pipeline and positioning in catering to the increasing demand for affordable healthcare are striving for the upbeat sentiment.

Around 11 lakh shares changed hands against the one-month daily traded average of 9 lakh shares.
The share, which has gained almost 10% in the past five sessions, has given a profit of 25% in the six months.
The stock practised a significant breakout after a consolidation period of about six weeks, escorted by robust trading volumes, Rajesh Malviya of Axis Securities said.

Recently, it displayed a bullish moving average convergence (MACD). There has been a bullish indication, with the 50-day Exponential Moving Average (EMA) crossing above the 200-day EMA during the last week, signifying a positive trend.

The company posted a combined net profit of Rs 275 crore in Q4FY23. Natco reported a net loss of Rs 50 crore during the last year quarter. Its revenue mounted 52% to Rs 927 crore from Rs 610 crore during Q4FY22.
Natco Pharma said the revenue growth in the US market and the growth of its Canadian subsidiaries and Brazil played an essential role in driving the firm’s financial performance.

At 11:14 am, the company’s share was trading at Rs 694.95 on the NSE, up 3.11% from the previous close.