Celestial Biolabs jumps ahead of the launch of an anti-diabetic product

Celestial Biolabs rose 5.27% to Rs 49.90 at 15:16 IST on BSE after the company said it is set to launch an anti-diabetic product.

Meanwhile, the BSE Sensex was down 151.56 points, or 0.55%, to 27,433.71.

On BSE, so far 4.25 lakh shares were traded in the counter, compared with an average volume of 1.15 lakh shares in the past one quarter.

The stock hit a high of Rs 51.20 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 48.15 so far during the day. The stock hit a 52-week low of Rs 15.50 on 17 January 2014.

The stock had outperformed the market over the past one month till 12 January 2015, rising 22.01% compared with 0.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 61.50% as against Sensex's 4.90% rise.

The small-cap bio-pharmaceutical company has an equity capital of Rs 17.35 crore. Face value per share is Rs 10.

Celestial Biolabs said it is set to launch its latest anti-diabetic product, which is expected to be a breakthrough in research and in the management of diabetes.

The company is in the process of launching this natural sea based 100% vegetarian product tentatively by April 2015, it said.

Net profit of Celestial Biolabs rose 26.92% to Rs 0.33 crore on 45.33% rise in net sales to Rs 7.47 crore in Q2 September 2014 over Q2 September 2013.

Celestial Biolabs is engaged in the business of manufacturing and sale of bio-pharmaceutical products.

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