 "SMS Pharma extends rally post stock split; hit new high")
SMS Pharmaceuticals has rallied 11% to Rs 114, extending its previous day’s 5% gain on the BSE, after the company sub-divided the face value of equity shares of the company from Rs 10 to Rs 1 per equity share. The stock turned ex-stock split on Thursday, December 17, 2015.
Shares of the pharmaceutical company hit a lifetime high of Rs 115 on the BSE in intra-day trade today. A combined 561,589 shares have already changed hands on the company on the BSE and NSE. Average sub 50,000 shares were traded daily in past two weeks before stock-split.
Post September quarter results on November 7 the stock has outperform the market by surging 50% from Rs 76.25 against 2% decline in the S&P BSE Sensex.
SMS Pharma had reported more than doubled net profit of Rs 10.48 crore for the quarter ended September 30, 2015, as compared Rs 5.15 crore in the year ago quarter.
Shares of the pharmaceutical company hit a lifetime high of Rs 115 on the BSE in intra-day trade today. A combined 561,589 shares have already changed hands on the company on the BSE and NSE. Average sub 50,000 shares were traded daily in past two weeks before stock-split.
Post September quarter results on November 7 the stock has outperform the market by surging 50% from Rs 76.25 against 2% decline in the S&P BSE Sensex.
SMS Pharma had reported more than doubled net profit of Rs 10.48 crore for the quarter ended September 30, 2015, as compared Rs 5.15 crore in the year ago quarter.