Mangalam Organics (MODL) is trending up over the past week, and has gained across the board to become green across Trendlyne's three scores - Durability, Valuation and Momentum. The threshold to watch out for going forward is if Mangalam crosses 75 in its Momentum Score in the coming weeks. That would indicate that the stock is gaining strong upward momentum (It is currently over 70).
Mangalam Organics is in the portfolio of multiple large investors, including that of investor Subramanian P. The stock delivered over 185% returns in the last year.
The board of directors of the company approved on Feb 2 a buyback of up to 6.1 lakh equity shares of face value of Rs10 each. The buy-back would be carried out at a price of Rs 230 per share (approximating to a 11% premium over current market price).
Ever since the company restructured itself in FY12-13, Mangalam Organics has become one of the largest API suppliers for Anti-Malaria drug manufacturing companies in the regulatory market. It has diversified its product range over the last few years from intermediates and specialty chemicals to APIs such as Anti Malarial, Anti Retroviral, Uricosuric Agent, Analgesic and Anti Hypertensive.