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Suven Life Sciences bounces back after recent fall

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Capital Market

Suven Life Sciences spurted 7.67% to Rs 73 at 15:02 IST on BSE on bargain hunting after the stock tumbled 13.96% in the preceding three trading sessions to Rs 67.80 on 18 November 2013, from a recent high of Rs 78.80 on 12 November 2013.

Meanwhile, the BSE Sensex was up 40.64 points, or 0.19%, to 20,891.38.

On BSE, 14.53 lakh shares were traded in the counter compared with average volume of 3.86 lakh shares in the past one quarter.

The stock hit a high of Rs 76.25 and a low of Rs 67.90 so far during the day. The stock hit a record high of Rs 83.40 on 12 November 2013. The stock hit a 52-week low of Rs 22 on 4 March 2013.

 

The stock had outperformed the market over the past one month till 18 November 2013, rising 31.40% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, soaring 118.36% as against Sensex's 12.11% rise.

The small-cap company has an equity capital of Rs 11.68 crore. Face value per share is Re 1.

Suven Life Sciences' net profit surged 601.8% to Rs 45.55 crore on 201.3% spurt in net sales to Rs 151.41 crore in Q2 September 2013 over Q2 September 2012.

EBITDA (earnings before interest, taxes, depreciation and amortization) surged 550% to Rs 71.50 crore in Q2 September 2013 over Q2 September 2012.

Suven Life Sciences said the growth in profit was a result of one new product, in addition to two products already commercialised during the first quarter, totaling three products under CRAMS (contract research and manufacturing services).

Suven Life Sciences is in the business of design, manufacture and supply of bulk actives, drug intermediates & fine chemicals.

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First Published: Nov 19 2013 | 3:03 PM IST

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