Scripscan:Transgene Biotek Ltd
cmp:35
Code:526139
Story:Transgene Biotek is engaged in the research and development and manufacture of various medical reagents, both chemical and immuno-diagnostic reagents for the qualitative and quantitative estimation of bio-chemical parameters and diagnosis of diseases respectively.Transgene Biotek's net profit galloped 31360% to Rs 15.73 crore on 762.6% growth in net sales to Rs 8.54 crore in Q3 December 2011 over Q3 December 2010. The company said that there was exceptional income of Rs 13.09 crore in Q3 December 2011, which represents gain due to foreign exchange fluctuations.At 235crs marketcap it presents very little excitement.Results are nothing to brag about as its mostly comprises forex gains.Rally in midcaps and strong present momentum in the counter can ignite further price rise in the counter.At about 40 odd one should exit out and move on to something better.
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