Aarti Drugs Plans Buyback At 76% Premium, Shares Surge Over 16%

Shares of the company surged 16.24% to Rs 593.45 apiece compared to a 0.18% decline in the Nifty 50 as of 12:30 p.m. on Monday.

The total traded quantity so far in the day stood at 23.7 times the 30-day average volume. The stock's relative strength index stands at 81, indicating that it may be overbought.

Of the three analysts tracking the stock, two maintain a 'buy' and one recommends a 'hold', according to Bloomberg data. The consensus price estimate indicates a 13.4% downside over the next 12 months.