Cadila Healthcare lost 3.07% to Rs 884 at 10:36 IST on BSE, with the stock extending Friday's 3% slide triggered by the company reporting weak Q4 earnings.
Meanwhile, the S&P BSE Sensex was up 94.64 points or 0.39% at 24,216.38.
On BSE, so far 5,943 shares were traded in the counter as against average daily volume of 17,429 shares in the past one quarter.
The stock was volatile. The stock lost as much as 4.05% at the day's low of Rs 875 so far during the day. The stock rose as much as 1.77% at the day's high of Rs 928.20 so far during the day. The stock had hit a 52-week low of Rs 631 on 20 August 2013. The stock had hit a record high of Rs 1079 on 3 March 2014.
The stock had underperformed the market over the past one month till 16 May 2014, sliding 6.28% compared with the Sensex's 8.28% rise. The scrip had also underperformed the market in past one quarter, declining 3.71% as against Sensex's 18.44% rise.
The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 5.
Also Read
Shares of Cadila Healthcare have fallen 5.98% in two trading sessions from Rs 940.25 on 15 May 2014, after the company during market hours on Friday, 16 May 2014, reported weak Q4 March 2014 earnings. The stock had fallen 3% to settle at Rs 912 on Friday, 16 May 2014.
Cadila Healthcare's consolidated net profit declined 8.74% to Rs 239.19 crore on 22.39% growth in net sales to Rs 1916.33 crore in Q4 March 2014 over Q4 March 2013.
Cadila Healthcare's consolidated net profit rose 22.97% to Rs 803.59 crore on 14.69% growth in net sales to Rs 7060.07 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Cadila Healthcare said that the topline growth was mainly driven by 30% growth in formulation exports, which was buoyed by 44% growth in sales in the US market and 17% growth in the emerging markets. In the US, the group which is ranked amongst the 8th largest generic companies, launched 7 new products, Cadila said. The group also launched operations in Mexico with launch of 7 products during the year, the company said in a statement.
The group's India formulations business launched more than 75 new products including line extensions, of which 19 were first in India, Cadila Healthcare said. This was a milestone year for the group as it marked the launch of Lipaglyn, the breakthrough therapy to treat diabetic dyslipidemia and India's first NCE to reach the market, the company said in a statement.
Strengthening its regulatory pipeline, the group filed a record 50 ANDAs during the year with the USFDA, taking the cumulative filings to 227. The group received 15 ANDA approvals during the year taking the total to 91 product approvals, Cadila Healthcare said in a statement.
Cadila Healthcare's board of directors at its meeting held on Friday, 16 May 2014, recommended dividend of Rs 9 per share for FY 2014.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
Powered by Capital Market - Live News