 "Divi's Lab hits new lifetime high; surges over 25% post 1:1 bonus")
Shares of Divi’s Laboratories are trading higher by 3% at Rs 2,478, extending their past nine-day rally on the BSE, after the drug maker announced issue of bonus equity shares in the ratio of 1:1 i.e. one equity share for every one share held as on record date to be determined.
The stock has touched a new lifetime high of Rs 2,485 in intra-day trades and rallied 26% from Rs 1,970 on August 7, 2015. The CNX Nifty has dipped by 3.4% during the same period.
Meanwhile, the company had reported a strong 45% year-on-year (YoY) rise in net profit at Rs 243 crore for the quarter ended June 2015 (Q1). It had posted a profit of Rs 168 crore in the year-ago quarter.
The company's net sales rose by 26% YoY to Rs 807 crore for the first quarter as against Rs 640 crore in the year-ago quarter, Divis Laboratories said in a filing to BSE.
Analysts on an average had expected a profit of Rs 206 crore and revenues of Rs 760 crore for the quarter.
The stock has touched a new lifetime high of Rs 2,485 in intra-day trades and rallied 26% from Rs 1,970 on August 7, 2015. The CNX Nifty has dipped by 3.4% during the same period.
Meanwhile, the company had reported a strong 45% year-on-year (YoY) rise in net profit at Rs 243 crore for the quarter ended June 2015 (Q1). It had posted a profit of Rs 168 crore in the year-ago quarter.
The company's net sales rose by 26% YoY to Rs 807 crore for the first quarter as against Rs 640 crore in the year-ago quarter, Divis Laboratories said in a filing to BSE.
Analysts on an average had expected a profit of Rs 206 crore and revenues of Rs 760 crore for the quarter.