Ajanta Pharma rose 2.74% to Rs 862.75 at 13:16 IST on BSE, with the stock extending Monday's 14.74% rally triggered by the company reporting strong Q2 earnings.
Meanwhile, the S&P BSE Sensex was up 297.38 points or 1.45% at 20,867.66.
On BSE, 1.74 lakh shares were traded in the counter as against average daily volume of 29,194 shares in the past one quarter.
The stock hit a high of Rs 885.50 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 821.20 so far during the day. The stock had hit a 52-week low of Rs 235.53 on 12 November 2012.
The stock had outperformed the market over the past one month till 28 October 2013, surging 16.67% compared with the Sensex's 4.27% rise. The scrip had also outperformed the market in past one quarter, jumping 23.14% as against Sensex's 4.16% rise.
The small-cap company has equity capital of Rs 17.58 crore. Face value per share is Rs 5.
Shares of Ajanta Pharma have rallied 17.88% in two trading sessions from Rs 731.85 on 25 October 2013, after the company during trading hours on Monday, 28 October 2013 reported strong Q2 results. The stock had spurted 14.74% to settle at Rs 839.75 on Monday, 28 October 2013.
Ajanta Pharma's net profit surged 155% to Rs 56 crore on 50% growth in revenue from operations to Rs 280 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) jumped 95% to Rs 84 crore in Q2 September 2013 over Q2 September 2012. EBITDA margin increased to 30% from 23% a year ago.
Exports contributed 64% of the total operating income in Q2 September 2013.
Ajanta Pharma filed 3 more abbreviated new drug applications (ANDAs) during the quarter taking total tally to 18 ANDAs (2 approved and 16 awaiting approval).
Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacture and marketing of quality finished dosages in domestic and international markets.
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