Cadila Healthcare reverses direction after hitting 52-week high

Cadila Healthcare fell 0.61% to Rs 898 at 11:06 IST on BSE, with the stock sliding on profit booking after 3-day 4.98% rally.

Meanwhile, the BSE Sensex was down 61.46 points or 0.36% to 17,195.92.

On BSE, 1,835 shares were traded in the counter as against average daily volume of 14,961 shares in the past one quarter.

The stock hit a high of Rs 910 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 890 so far during the day. The stock had hit a 52-week low of Rs 629 on 25 January 2012.

The stock had outperformed the market over the past one month till 1 August 2012, surging 17.47% compared with the Sensex's 0.99% fall. The scrip had also outperformed the market in past one quarter, jumping 24.06% as against Sensex's 0.35% fall.

The large-cap pharmaceutical company has an equity capital of Rs 102.37 crore. Face value per share is Rs 5.

Shares of Cadila Healthcare surged 4.98% in three trading sessions to settle at Rs 903.55 on Wednesday, 1 August 2012, from a recent low of Rs 860.65 on 27 July 2012.

Cadila Healthcare early this week said it has received tentative approval from the US Food and Drug Administration (USFDA) for Aripiprazole Orally Disintegrating Tablets in the strengths of 10 milligram (mg), 15 mg, 20 mg and 30 mg. This drug is an anti-psychotic medication used in the treatment of schizophrenia.

Cadila Healthcare's consolidated net profit fell 4.5% to Rs 170.88 crore on 15% growth in net sales to Rs 1344.36 crore in Q4 March 2012 over Q4 March 2011. The company unveils Q1 June 2012 results on 6 August 2012.

Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare products. The group's operations range from API to formulations, animal health products and cosmeceuticals. Headquartered in the city of Ahmedabad in India, the group has global operations in four continents spread across USA, Europe, Japan, Brazil, South Africa and 25 other emerging markets.

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