Orchid Pharma declined 2.05% to Rs 19.10 at 9:31 IST on BSE after Serum Institute of India offloaded 7.05 lakh shares of the company at Rs 19.37 per share in a bulk deal on the NSE yesterday, 19 December 2017.
Meanwhile, the S&P BSE Sensex was up 44.28 points or 0.13% at 33,881.02.
On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 95,000 shares in the past two weeks. The stock had hit a high of Rs 19.90 and a low of Rs 19 so far during the day. The stock had hit a 52-week high of Rs 39.70 on 18 April 2017 and a record low of Rs 16.70 on 15 September 2017.
The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.
Serum Institute of India had sold 7.50 lakh shares of Orchid Pharma at Rs 18.55 per share in a bulk deal on the NSE on 18 December 2017.
Serum Institute of India held 5.21% stake in Orchid Pharma end September 2017.
Orchid Pharma reported net loss of Rs 187.85 crore in Q4 March 2017, higher than net loss of Rs 63.74 crore in Q4 March 2016. Net sales declined 2.2% to Rs 204.88 crore in Q4 March 2017 over Q4 March 2016.
Orchid Pharma is an integrated pharmaceutical company with core competencies in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms as well as in drug discovery.
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