Meanwhile, the S&P BSE Sensex was up 63.63 points or 0.23% at 27,750.93.
The stock spurted on heavy volumes. On BSE, so far 13.51 lakh shares were traded in the counter as against average daily volume of 1.41 lakh shares in the past one quarter.
The stock hit a low of Rs 6.95 so far during the day. The stock had hit a 52-week high of Rs 19.45 on 2 July 2014. The stock had hit a 52-week low of Rs 4.10 on 27 March 2015.
The stock had outperformed the market over the past one month till 18 May 2015, advancing 7.02% compared with Sensex's 2.65% fall. The scrip had also outperformed the market in past one quarter, declining 1.86% as against Sensex's 5.57% fall.
The small-cap company has equity capital of Rs 27.20 crore. Face value per share is Re 1.
Shares of Sterling Biotech have rallied 32.31% in two trading sessions from Rs 6.22 on 15 May 2015, after the company after market hours on 15 May 2015, reported lower net loss in Q1 March 2015 vis-vis Q1 March 2014. The stock had rallied 10.29% to settle at Rs 6.86 yesterday, 18 May 2015.
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Sterling Biotech reported net loss of Rs 90.35 crore in Q1 March 2015, lower than net loss of Rs 103.33 crore in Q1 March 2014. Net sales declined 46.5% to Rs 100.63 crore in Q1 March 2015 over Q1 March 2014.
Sterling Biotech's core business is the manufacture of gelatin for pharmaceutical and edible uses.
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