Gitanjali Gems, MCX, Bharat Forge and Ranbaxy Laboratories are among the other stocks to see a surge in volumes on BSE today, 8 August 2013.
Page Industries clocked volume of 20,000 shares by 12:43 IST on BSE, a 71.99-times surge over two-week average daily volume of 275 shares. The stock rose 2.92% to Rs 4,465.
Gitanjali Gems notched up volume of 34.10 lakh shares, a 47.53-fold surge over two-week average daily volume of 72,000 shares. The stock hit a lower circuit limit of 4.96% to Rs 59.45. The company unveils Q1 results on 14 August 2013.
MCX saw volume of 15.29 lakh shares, a 25.90-fold surge over two-week average daily volume of 59,000 shares. The stock fell 3.35% to Rs 288.70.
Bharat Forge clocked volume of 2.57 lakh shares, a 12.64-fold surge over two-week average daily volume of 20,000 shares. The stock surged 12.79% to Rs 223.60 after net profit surged 80.8% to Rs 90.60 crore on 17.3% increase in total revenues to Rs 791.50 crore in Q1 June 2013 over Q4 March 2013. The company announced the results before trading hours today, 8 August 2013.
Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 28.5% to Rs 196 crore in Q1 June 2013 over Q4 March 2013. EBITDA margin increased to 24.8% in Q1 June 2013 compared with 22.6% in Q4 March 2013.
The company's net profit fell 13.9% to Rs 90.60 crore on 15.5% decline in total revenues to Rs 791.50 crore in Q1 June 2013 over Q1 June 2012. EBITDA fell 28.5% to Rs 196 crore in Q1 June 2013 over Q1 June 2012. EBITDA margin decreased to 24.8% in Q1 June 2013 compared with 25.1% in Q1 June 2012.
Ranbaxy Laboratories saw volume of 9.69 lakh shares, a 4.21-fold rise over two-week average daily volume of 2.30 lakh shares. The stock surged 13.76% to Rs 320.70 after the company reported improved Q2 results after trading hours on Wednesday, 7 August 2013. The company reported consolidated net loss of Rs 524.24 crore for Q2 June 2013, lower than net loss of Rs 585.72 crore in Q2 June 2012. Sales declined 17.83% to Rs 2633.20 crore in Q2 June 2013 over Q2 June 2012. Ranbaxy said that base business sales registered double digit growth and base business margins continued to improve in Q2 June 2013.
Ranbaxy said that bottom line in Q2 June 2013 was adversely impacted by the depreciation of rupee against the dollar. Though favourable to Ranbaxy's export business, the rupee depreciation had an adverse impact on the company's profitability mainly on account of application of the accounting standards that require marking to market the entire derivatives and foreign currency denominated loans outstanding. There was a net charge of Rs 540.30 crore on this account in Q2 June 2013, Ranbaxy said.
Ranbaxy said that the macroeconomic environment continued to be challenging in certain countries in Western Europe. Specifically in France, the generic pharma industry has been impacted adversely by continuing pricing and trade challenges. Ranbaxy has accordingly taken an impairment of goodwill of Rs 119.20 crore in Q2 June 2013 pertaining to its operations in France in line with the accounting standards.
Ranbaxy said the company registered profit after tax of Rs 135.20 crore in Q2 June 2013 if one excludes the impact of forex losses and other exceptional items.
Ranbaxy said sales declined on year on year basis in Q2 June 2013 due to base effect. The company said sales in Q2 June 2012 was boosted by contribution from exclusivities. On a like-to-like basis, sales grew in double digits over the corresponding quarter, Ranbaxy said.
Mr. Arun Sawhney, CEO & Managing Director, Ranbaxy said that the company's focus on branded markets and business continues and this will help navigate the growth of Ranbaxy in the coming years. He also said that the management is consciously working on efficiency improvement across the organization.
Ranbaxy during market hours today, 8 August 2013 said that its joint venture in Malaysia viz. Ranbaxy Malaysia Sdn Bhd (RMSB) has been allocated the site for setting up a greenfield manufacturing facility in Malaysia. The greenfield manufacturing facility will be built on an area of about 15 acres, with an investment of around $35 million providing employment to over 200 people. This will be Ranbaxy's second manufacturing facility in Malaysia. RMSB is a joint venture between Ranbaxy and Malaysian shareholders. RMSB is one the major generic companies in Malaysia.
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