Meanwhile, the BSE Sensex was down 334.20 points, or 1.98% to 16,542.86.
On BSE, 2.48 lakh shares were traded in the counter as against average daily volume of 97,853 shares in the past two weeks.
The stock hit a high of Rs 279.45 and a low of Rs 256.10 so far during the day.
Natco Pharma today, 8 December 2011, announced the closure of a qualified institutional placement (QIP). The issue opened on Wednesday, 7 December 2011, and was closed on the same day. The company said it is in the process of allocating 30 lakh shares to the eligible qualified institutional buyers. The company said it is raising Rs 67.50 crore through this issue, primarily to part-finance its expansion plans. The announcement was made during trading hours today, 8 December 2011.
On a consolidated basis, Natco Pharma's net profit rose 7.6% to Rs 15.94 crore on 4% growth in net sales to Rs 124.84 crore in Q2 September 2011 over Q2 September 2010.
Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.
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