Caplin Point Lab spurts after commencement of production at its Pondicherry plant

Caplin Point Laboratories rose 3.5% at Rs 260.50 at 15:13 IST on BSE after the company commenced additional line of production at its Pondicherry plant.

The announcement was made during market hours today, 10 July 2014.

Meanwhile, the S&P BSE Sensex was down 91.35 points or 0.36% at 25,353.46.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 14,269 shares in the past one quarter.

The stock hit a high of Rs 264.25 and a low of Rs 246 so far during the day. The stock had hit a record high of Rs 287 on 7 July 2014. The stock had hit a 52-week low of Rs 53 on 1 October 2013.

The stock had outperformed the market over the past one month till 9 July 2014, surging 40.38% compared with the Sensex's 0.53% fall. The scrip had also outperformed the market in past one quarter, jumping 44.74% as against Sensex's 12.08% rise.

The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.

Caplin Point Laboratories said that the company's plant at Pondicherry has commenced its additional line of production in the area of suppositories which is unique in its feature which very few pharma companies have. This will now enable export of these products to semi regulated and non regulated markets which includes Dominican Republic, Guatemala, Nicaragua, El Salvador, Honduras, in Latin American countries & Angola, Mali in West African countries, Caplin Point said.

Caplin Point Laboratories' consolidated net profit surged 109.4% to Rs 7.10 crore on 43.4% growth in net sales to Rs 41.40 crore in Q3 March 2014 over Q3 March 2013.

Caplin Point Laboratories currently has three fully functioning facilities and one more facility in the pipeline, capable of manufacturing a wide range of dosage forms and products catering to all segments of the pharmaceutical industry.

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