Bliss GVS Pharma declines after weak Q2 results

Bliss GVS Pharma lost 3.4% to Rs 66.70 at 10:40 IST on BSE after net profit fell 8.3% to Rs 21.57 crore on 9.9% decline in net sales to Rs 87.56 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours yesterday, 30 October 2014.

Meanwhile, the S&P BSE Sensex was up 286.91 points or 1.05% at 27,633.24.

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 72,476 shares in the past one quarter.

The stock hit a high of Rs 70.20 and a low of Rs 66.50 so far during the day. The stock had hit a record high of Rs 76.50 on 9 September 2014. The stock had hit a 52-week low of Rs 32.10 on 1 November 2013.

The stock had outperformed the market over the past one month till 30 October 2014, surging 16.44% compared with Sensex's 2.69% rise. The scrip had also outperformed the market in past one quarter, jumping 45.52% as against Sensex's 4.83% rise.

The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Re 1.

Bliss GVS Pharma's board of directors at its meeting held yesterday, 30 October 2014, approved for enlargement of the object of the company by inclusion of commodities trading. The Board decided to consider, negotiate & finalize purchase of substantial stake in Shree Sales Pack, who presently carries majorities of packaging business for the company. The Board further decided to consider the proposal of opening office of the company at London either by setting a subsidiary or representative office.

Bliss GVS Pharma is engaged in manufacturing female contraceptives, soft pessaries and suppositories.

Powered by Capital Market - Live News