Syngene jumps 12% despite Q2 profit fall, resistance at 420

Syngene International gained 12.19% to Rs 410.85 despite a 52% fall in Q2 profit, with support at Rs 344 and resistance at Rs 420. Syngene International Limited [ SYNGENE ] gained 12.19% to Rs 410.85 on 28 October, its second straight session higher, despite a 52% fall in Q2 FY27 profit. Consolidated profit fell to Rs 32.2 crore from Rs 67.1 crore. Revenue fell 8.6% to Rs 832.7 crore from Rs 910.6 crore. The numbers improved sharply from Q1, when revenue was Rs 736 crore and the company posted a loss of Rs 9 crore. Operating EBITDA margin rose 6 percentage points to 18%. Syngene’s US biologics facility, Bayview, signed its first manufacturing agreement with a large pharma customer, which gives an underused asset a path to revenue. The stock was in a strong downtrend, about 57% below its December 2024 peak near Rs 960. The bounce came from buying near the Rs 344 low. RSI is 62.80, above its average of 48.34, so momentum has turned up. Resistance is Rs 420. Support is Rs 344. A close above Rs 420 would extend the recovery. A close below Rs 344 would resume the downtrend. Volume of 32.97 million shares helps, but follow-through is key. DISCLOSURE: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.