The stock price of this small cap company (3000 cr MCAP)engaged in manufacturing of labware products shot up to an intraday high of 574.40 from a previous day close of 487.30 which is almost 18% gain in a single day , the stock price settled to 553 by the time market ended today. The reason behind this jump in stock price can be known by checking the stock exchange filing made by the company, it is mentioned in that filing that a fully owned subsidiary of tarsons products made an acquisition of two Germany based companies which are also involved in similar kind of business.
Even though the companies earnings are not up to the mark since few quarters which is why there is decline in the stock price since sep’22 a lot of market analysts have maintained overweight rating on the stock including ICICI securities with a target price of 590 , LKP securities with a target price of 770 and this aquisition kind of boosted investors confidence in the stock which caused this price rally
