Cadila Healthcare up 7% on bonus issue

DALAL STREET SPIKES

Cadila Healthcare surged 7.31 per cent to Rs 710.95 on 1:1 bonus issue and strong results. 26,753 shares were traded on the BSE.

The company's net profit jumped 40.25 per cent to Rs 22.3 crore for the fourth quarter ended March 31, 2006, compared with Rs 15.9 crore for quarter ending March 2005. Total income increased to Rs 290.3 crore from Rs 221.7 crore in the year-ago period.

For the full year, the company's net profit jumped to 25.49 per cent to Rs 164.9 crore compared with Rs 131.4 crore. Total income has increased to Rs 1,321.6 crore from Rs 114.19 crore.

The board recommended a bonus issue of 1:1 and a dividend of Rs 6 per equity share of Rs 5 each for the financial year.

In March, Cadila made an open offer for Carnation Nutra Analogue Foods aimed at acquiring up to 11,15,020 fully paid-up equity shares of the face value of Rs 10 each, representing 20 per cent of the paid-up capital of the target company, at a price of Rs 150 per share.