 "Abbott India hits lifetime high")
Abbott India has moved higher by 3% to Rs 5,375, also its lifetime high on the BSE, in otherwise subdued market.
Post June quarter results, shares of pharmaceutical company outperformed the market by gaining 20% from Rs 4,479 on August 11, 2015, compared to 10% fall in the S&P BSE Sensex.
The company had reported a 35% year-on-year (Y-o-Y) rise in its standalone net profit to Rs 68.56 crore for the quarter ended June 30, 2015. The company had posted a net profit of Rs 50.93 crore for the same period of the previous fiscal, Abbott India said in a filing to BSE.
Total income from operations of the company rose 21% at Rs 633.10 crore on Y-o-Y basis.
Meanwhile, Munir Shaikh, chairman of Abbott India at the recently convened Annual General Meeting replying to shareholders query said that the requests for the bonus shall be considered at the appropriate time. The last bonus issue was made in the year 1998 in the ratio of 1:1.
In response to the query relating to the new products and its performance at the market place, he replied that Nano and Duphalac Fiber are performing well in the market amongst the other new launches.
At 13:49 PM, the stock was up 2% at Rs 5,325 on the BSE compared to 0.35% decline in the Sensex. A combined 9,628 shares changed hands on the counter so far on the BSE and NSE.
Post June quarter results, shares of pharmaceutical company outperformed the market by gaining 20% from Rs 4,479 on August 11, 2015, compared to 10% fall in the S&P BSE Sensex.
The company had reported a 35% year-on-year (Y-o-Y) rise in its standalone net profit to Rs 68.56 crore for the quarter ended June 30, 2015. The company had posted a net profit of Rs 50.93 crore for the same period of the previous fiscal, Abbott India said in a filing to BSE.
Total income from operations of the company rose 21% at Rs 633.10 crore on Y-o-Y basis.
Meanwhile, Munir Shaikh, chairman of Abbott India at the recently convened Annual General Meeting replying to shareholders query said that the requests for the bonus shall be considered at the appropriate time. The last bonus issue was made in the year 1998 in the ratio of 1:1.
In response to the query relating to the new products and its performance at the market place, he replied that Nano and Duphalac Fiber are performing well in the market amongst the other new launches.
At 13:49 PM, the stock was up 2% at Rs 5,325 on the BSE compared to 0.35% decline in the Sensex. A combined 9,628 shares changed hands on the counter so far on the BSE and NSE.