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AIM round-up: Infrastructure India, Primorus Investments


London’s AIM Index had reversed Monday’s modest gains by 3.30pm on Tuesday to sit Just over four points lower at 846.78.

  • Infrastructure India +29%
  • Primorus Investments +22%
  • Renalytix +15%
  • Shearwater -17%
  • Corcel -15%

Infrastructure India [LON:IIP] was at the top of the board by 3.30pm up 29%. There’s an ongoing delay regarding the sale of an asset which has resulted in the company opening discussions with other interested parties. However, volumes were far from convincing and the move is barely outside the spread, suggesting that further volatility could prevail.

Primorus Investments LON:PRIM added 22% by copy time, following a second day of elevated volumes. However this essentially recovers yesterday’s sell off so seems to be a case of nothing to see here, especially given the reported low number of overall transactions.

Renalytix LON:RENX gets the notable mention, up 15% following the publication of positive Real World Evidence over its clinical therapies in a medical journal. With this in mind, Wednesday’s Q1 earnings will be closely watched.

Shearwater LON:SWG was the day’s laggard, off 18% at 3.30pm. The company published interim results this morning which pitched revenues in line with full year expectations. However profitability has been negatively impacted by increased investment and rising costs, which have seen gross margins slip from 77% a year ago to 69%. The rate of new client onboarding has also slowed notably.

Corcel LON:CRCL was some 15% lower at the time of writing, with Monday’s audited results starting to bite. This flagged a potential cash crunch for the company, but Monday’s sanguine response has become a little more focused. Volumes were noticeably elevated with a focus on selling stock, although the move was inside the spread.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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