Natco Pharma gained 4.77% to Rs 418.25 at 10:56 IST on BSE after the company's board of directors approved the sale of Save Mart Pharmacy Stores located in USA, which is a non-core business of the company.
The Save Mart Pharmacy Stores is being owned by Natco Pharma Inc., a wholly owned subsidiary of the company. The announcement was made after market hours yesterday, 30 March 2016.Meanwhile, the S&P BSE Sensex was up 120.14 points or 0.47% at 25,458.72
On BSE, so far 1.71 lakh shares were traded in the counter as against average daily volume of 58,312 shares in the past one quarter. The stock hit a high of Rs 425.20 and a low of Rs 405.25 so far during the day. The stock had hit a 52-week low of Rs 365.79 on 28 April 2015. The stock had hit a record high of Rs 623.60 on 5 January 2016. The stock had underperformed the market over the past one month till 30 March 2016, falling 4.49% compared with 10.16% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 28.85% as against Sensex's 2.39% decline.
The mid-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.
On a consolidated basis, net profit of Natco Pharma rose 159.1% to Rs 37.15 crore on 42.8% growth in net sales to Rs 263.12 crore in Q3 December 2015 over Q3 December 2014.
Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.
Powered by Capital Market - Live News