Shares of Cohance Lifesciences Ltd. declined as much as 10% on Thursday, November 13, marking the 11th straight session of losses for the stock.

The counter has gained in only four of the last 20 sessions and has now dropped 27% in the past 11 trading days.

Trading volumes spiked, with nearly 19 lakh shares changing hands, which is well above the 20-day average of 2.5 lakh shares. The stock has fallen below all key moving averages and has now declined for four consecutive months.

In its September quarter results, net profit dropped 52% year-on-year to ₹66.4 crore, while revenue fell 8% to ₹555 crore.

The company attributed the revenue decline to deferred shipments at CDMO and FDF sites, as well as de-stocking of key molecules and delayed project starts at NJ Bio. Adjusted for de-stocki

See Full Page