Panacea Biotec rose 1% to Rs 109 at 10:55 IST on BSE, extending yesterday's 2.32% rise triggered by the company receiving Establishment Inspection Report from US drug regulator for its facilities at Baddi in Himachal Pradesh.
The announcement was made during market hours yesterday, 21 November 2016. Shares of Panacea Biotec rose 2.32% to Rs 107.95 on that day. The stock has risen 3.32% in two trading sessions from its close of Rs 105.50 on 18 November 2016.
Meanwhile, the BSE Sensex was up 100.04 points, or 0.39%, to 25,865.18.
On BSE, so far 2,493 shares were traded in the counter, compared with average daily volume of 14,290 shares in the past one quarter. The stock hit a high of Rs 111.85 and a low of Rs 108.60 so far during the day. The stock hit a 52-week high of Rs 171.20 on 4 December 2015. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, rising 0.47% compared with the 8.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.51% as against Sensex's 7.95% decline.
The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Rs 1.
Panacea Biotec has state-of-the-art pharmaceutical formulation facility located at Baddi for oral solids and oncology parenteral formulations. The company has been supplying products in US markets for approved abbreviated new drug applications (ANDAs) manufactured in oral solids dosage facility. A number of ANDAs submitted by the company, referring these facilities, are also at various stages of approval by the United States Food and Drug Administration (USFDA).
Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016, lower than net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.
Panacea Biotec is one of India's leading research based health management companies with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers in India and is one of the leading biotechnology companies.
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