Cadila Healthcare surged 6.03% to Rs 1,501.75 at 13:05 IST on BSE after consolidated net profit rose 52% to Rs 278 crore on 21% growth in total operating income to Rs 2108 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced yesterday, 6 November 2014, when the stock market was closed on account of Gurunanak Jayanti.
Meanwhile, the S&P BSE Sensex was down 105.67 points or 0.38% at 27,810.21.
On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 13,333 shares in the past one quarter.
The stock hit a high of Rs 1,507.50 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,435.05 so far during the day. The stock had hit a 52-week low of Rs 696 on 6 November 2013.
The stock had outperformed the market over the past one month till 5 November 2014, advancing 8.27% compared with the Sensex's 5.07% rise. The scrip had also outperformed the market in past one quarter, jumping 31.51% as against Sensex's 7.75% rise.
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The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 5.
During the quarter, the company's business in the US posted sales of Rs 802 crore, registering a growth of 68%. The company received approval for 6 new products from the USFDA and 4 products were launched in the US market.
In the domestic formulations market, the company launched 16 new products, including line extensions, of which 6 products were the first to be launched in India, Cadila said. In Mexico, the company launched 2 new products during the quarter, taking the cumulative launches to 12 and received the regulatory approval for 2 more dossiers, taking the cumulative number of approvals to 17, the company said in a statement.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
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