Ipca Laboratories has rallied 7% to Rs 273 extending previous day's 6% gains after its board declared an interim dividend of 50% or Re 1 per share on face value of Rs 2 per share for the financial year 2011-12.
The company has fixed November 07, 2011 as the 'Record Date' for the members entitlement of interim dividend.
Meanwhile, the mid-cap pharmaceutical company has reported 17% year-on-year (y-o-y) drop in its net profit to Rs 77.96 crore for the second quarter ended September 2011, mainly on account of forex loss of Rs 27.15 crore as against a gain of Rs 28.84 crore. However, the company's consolidated net sales improved by 20% to Rs 618 crore on y-o-y basis.
The stock hit a high of Rs 275 after opening at Rs 256 on the National Stock Exchange. The trading volumes on the counter more than double, with a combined 227,110 shares have changed hands on the counter till 0944 hours on both the exchanges.
