Anuh Pharma corrects on profit booking

Anuh Pharma fell 6.94% to Rs 222 at 15:12 IST on BSE on profit booking after rallying over 16% in the previous trading session.

Meanwhile, the BSE Sensex was down 107.22 points, or 0.40%, to 26,382.34.

On the BSE, so far 31,000 shares were traded in the counter, compared with average daily volumes of 17,114 shares in the past one quarter. The stock had hit a high of Rs 244.45 and a low of Rs 221.75 so far during the day.

The stock hit a 52-week high of Rs 344 on 21 December 2015. The stock hit a 52-week low of Rs 159 on 21 April 2016. The stock had outperformed the market over the past 30 days till 16 December 2016, rising 17.77% compared with the 1% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.40% as against Sensex's 7.38% decline.

The small-cap company has equity capital of Rs 12.53 crore. Face value per share is Rs 5.

Shares of Anuh Pharma surged 16.54% to settle at Rs 238.55 on Friday, 16 December 2016, after the company announced that French National Agency for Medicines and Health Products Safety (ANSM) considers manufacturing site of the company at MIDC Tarapur in Maharashtra in compliance with principles of good manufacturing practices (GMP) for active substances and has granted European Union good manufacturing practices (EUGMP) certificate for Erythromycin Ethyl Succinate and Pyrazinamide products. ANSM carried out the inspection of the manufacturing site on 16 September 2016.

Separately, Anuh Pharma announced that World Health Organisation (WHO), Geneva, considers the manufacturing site of the company at MIDC Tarapur in Maharashtra in compliance to WHO GMPs for Pyrazinamide APIMF158 and Sulfadoxine APIMF234, active pharmaceutical ingredients. The inspection of the manufacturing site by the WHO was carried out on 16 September 2016.

Both the announcements were made during market hours on Friday, 16 December 2016.

Anuh Pharma's net profit dropped 34.5% to Rs 4.87 crore on 44.2% drop in net sales to Rs 50.07 crore in Q2 September 2016 over Q2 September 2015.

Anuh Pharma manufactures active pharmaceutical ingredients (APIs).

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