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Nutraplus India sizzles 55.85% in nine sessions

Capital Market 

Nutraplus rose 3.84% to Rs 40.60 at 10:24 on BSE, with the stock extending recent strong gains.

Meanwhile, the S&P Sensex was up 35.33 points, or 0.11% at 31,782.42. The S&P Small-Cap index was up 30.48 points, or 0.19% at 15,836.91.

On the BSE, 1.41 lakh shares were traded on the counter so far as against the average daily volumes of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 40.75 and a low of Rs 39.40 so far during the day. The stock had hit a 52-week high of Rs 62.70 on 11 July 2016 and a 52-week low of Rs 19.60 on 29 March 2017.

The stock had outperformed the market over the past one month till 11 July 2017, advancing 45.9% compared with the Sensex's 1.55% rise. The scrip had also outperformed the market over the past one quarter advancing 55.78% as against the Sensex's 6.58% rise. The scrip had, however, underperformed the market over the past one year declining 37.64% as against the Sensex's 14.91% rise.

The small-cap company has equity capital of Rs 17.05 crore. Face value per share is Rs 5.

Shares of Nutraplus surged 55.85% in nine trading sessions to its current market price of Rs 40.60, from a close of Rs 26.05 on 29 June 2017.

Nutraplus announced on 8 July 2017 that the meeting of the board of directors of the company will be held on Monday, 17 July 2017 to review the status of Dahej project, to consider the option to diversify into agrochemical business and to consider forward integration of active pharmaceutical ingredients (API) to formulation manufacturing.

The board will also consider raising funds by various options i.e. by way of fresh equity, bank borrowing, inducting strategic partner through special purpose vehicle or by any other appropriate means. The board will also consider setting up of warehouse facility of API and formulation in Africa and to apply for the necessary approvals.

Nutraplus reported net loss of Rs 2.77 crore in Q4 March 2017, compared with net profit of Rs 3.24 crore in Q4 March 2016. Net sales fell 7.4% to Rs 23.43 crore in Q4 March 2017 over Q4 March 2016.

Nutraplus is a veteran producer of bulk drugs/active pharmaceutical ingredients (APIs), specialty chemicals and intermediates for treatment across therapeutic areas.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 12 2017. 10:24 IST