Astec Lifesciences drops on profit booking

Astec Lifesciences lost 4.97% to Rs 149 at 14:39 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the BSE Sensex was up 81.21 points, or 0.28%, to 28,791.08

On BSE, so far 4.36 lakh shares were traded in the counter compared with the average volume of 1.77 lakh in past one quarter.

The stock hit a high of Rs 157.60 and a low of Rs 146.20 so far during the day. The stock hit all time high of Rs 160.60 on 10 March 2015 and 52-week low of Rs 32 on 11 April 2014.

The small-cap stock had outperformed the market over the past one month till 10 March 2015, surging 31.99% compared with 1.25% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 44.12% as against Sensex's 3.16% rise.

The company has an equity capital of Rs 18.53 crore. Face value per share is Rs 10.

Shares of Astec Lifesciences were on a roll recently, gaining 27.68% in three trading days to settle at Rs 156.80 on 10 March 2015 from a recent low of Rs 122.80 on 4 March 2015.

Meanwhile, with respect to media reports titled Company looking to sell stake, company open to selling-off business, bring in strategic partner, Astec Lifesciences during market hours today, 11 March 2015 clarified that the company remains fully committed to grow its operations and is looking at a healthy growth this year. As per company policy, Astec Lifesciences does not comment on the market rumors and speculations, the company said.

Astec Lifesciences' consolidated net profit rose 68.5% to Rs 3.59 crore on 13.2% rise in total income to Rs 57.46 crore in Q3 December 2014 over Q3 December 2013.

Astec Lifesciences makes a wide range of agrochemical active ingredients and pharmaceutical intermediates.

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