As per reports, Smallcap World Fund was planning to sell a 3.8 percent stake in the Neuland Laboratories through a block deal
Investor Mukul Mahavir Agrawal held 400,000 shares, representing 3.12 per cent stake, in Neuland Lab at the end of June quarter, shareholding pattern data shows
Neuland Laboratories hit a new high of Rs 11,093.15, as the stock rallied 18% on the BSE in Friday's intra-day trade on the back of robust earnings for June 2024 quarter.
Neuland Labs total income fell by 6 per cent year on year (YoY) to Rs 390 crore in Q4FY24 as against Rs 415 crore in Q4FY23
Goldman Sachs attributes India's underpenetrated CDMO and CRO market to smaller capacities, lack of Innovation with little collaboration between Industry and academia
Neuland Lab hit a new high of Rs 6,910, rallied 6% after reported robust earnings with profit after tax more than doubled to Rs 80.7 crore in Q3FY24, on back of healthy operational performance.
The EBITDA margin improvement of 980 bps points to 33.4 per cent is a result of not only the revenue momentum but also a shift towards high margin business, the management said.
Since February 2, 2023, the stock price of Neuland Labs more-than-doubled or zoomed 116 per cent from level of Rs 1,409.75
The company reported a record EBITDA margin of 23.6 per cent, led by shift in business mix towards higher margin products as well as various cost optimization initiatives.
Stocks to Watch: JSW Steel has signed a memorandum of understanding (MoU) with SMS group, a German engineering and technology company, for exploring decarbonisation projects
Dolly Khanna acquired 161,336 equity shares or 1.26 per cent stake in Neuland Lab during the quarter ended March 2021
The change in business mix with increasing amount of margins coming from CMS business and certain Specialty products and cost optimization measures helped improve profitability
The stock dipped 8% to Rs 1,175 on the BSE in intra-day trade after the company reported 75% decline in its standalone net profit at Rs 2.59 crore in September quarter.
The stock hit a record high of Rs 1,319 on BSE in intra-day trade, rallied 44% in past two days
The merger is subject to all necessary approvals