Elder Pharmaceuticals rose 4.72% to Rs 83.15 at 11:13 IST on BSE on reports that the company is targeting Rs 100 crore from global sales of its calcium supplement brand Shelcal by 2017-18.
Meanwhile, the S&P BSE Sensex was up 159.04 points or 0.6% at 26,584.34.
On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 16,498 shares in the past one quarter.
The stock hit a high of Rs 85.80 and a low of Rs 82 so far during the day. The stock had hit a 52-week high of Rs 230.25 on 12 June 2014. The stock had hit a 52-week low of Rs 66.65 on 10 June 2015.
The stock had underperformed the market over the past one month till 12 June 2015, sliding 6.2% compared with Sensex's 1.68% fall. The scrip had also underperformed the market in past one quarter, declining 28.98% as against Sensex's 8.66% fall.
The small-cap company has equity capital of Rs 20.54 crore. Face value per share is Rs 10.
According to reports, Elder Pharmaceuticals is targeting Rs 100 crore from global sales of its calcium supplement brand Shelcal by 2017-18, in view of increasing exports base to Europe, Asia and African countries. The company is planning to export another nutritional product, Thrive, a natural supplement that helps fight chronic metabolic disorders and is also looking at strong prescription base in over 70 countries by March 2017, the report added.
On consolidated basis, Elder Pharmaceuticals reported net loss of Rs 46.02 crore in Q3 March 2015, lower than net loss of Rs 73.63 crore in Q3 March 2014. Net sales declined 33.5% to Rs 151.30 crore in Q3 March 2015 over Q3 March 2014.
Elder Pharmaceuticals is an integrated pharmaceutical player, headquartered in Mumbai, with a strong presence in the domestic formulation business.
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