Arvind Remedies inches up after commencement of commercial operations at a unit

Arvind Remedies rose 0.82% to Rs 43.15 at 11:16 IST on BSE after the company said that on 20 February 2014 the commercial operation of the new unit of the company at Kakkalur, Tiruvellore, Tamil Nadu for few products has been started.

The announcement was made after market hours on Tuesday, 25 February 2014.

Meanwhile, the S&P BSE Sensex was up 72.95 points or 0.35% at 20,925.42.

On BSE, so far 5,839 shares were traded in the counter as against average daily volume of 42,642 shares in past one quarter.

The stock was volatile. The stock rose as much as 2.1% at the day's high of Rs 43.70 so far during the day. The stock rose 0.81% at the day's low of Rs 43.15 so far during the day. The stock had hit a 52-week high of Rs 59.95 on 8 November 2013. The stock had hit a 52-week low of Rs 24.85 on 1 March 2013.

The stock had underperformed the market over the past one month till 25 February 2014, declining 12.38% compared with the Sensex's 1.33% fall. The scrip had also underperformed the market in past one quarter, sliding 23.37% as against Sensex's 1.2% rise.

The small-cap company has equity capital of Rs 68.13 crore. Face value per share is Rs 10.

Arvind Remedies' net profit jumped 52.4% to Rs 18.61 crore on 29.5% growth in net sales to Rs 233.04 crore in Q3 December 2013 over Q3 December 2012.

Arvind Remedies is engaged in the manufacturing of pharmaceutical formulations (tablet, capsules, suspension, syrup, and cream&powders) and ayurvedic products.

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