Claris Lifesciences bucks trend on buyback plan

Claris Lifesciences rose 2.19% to Rs 202.60 at 10:40 IST on BSE after the company said its board will meet on 7 January 2014, to consider a proposal for buyback of the equity shares.

The company made the announcement after market hours on Thursday, 2 January 2014.

Meanwhile, the BSE Sensex was down 99.39 points, or 0.48%, to 20,788.94.

On BSE, so far 1.56 lakh shares were traded in the counter, compared with an average volume of 6.56 lakh shares in the past one quarter.

The stock hit a high of Rs 209.80 and a low of Rs 202.30 so far during the day. The stock hit a 52-week high of Rs 232 on 3 April 2013. The stock hit a 52-week low of Rs 142.05 on 18 June 2013.

The stock had outperformed the market over the past one month till 2 January 2014, rising 12.10% compared with the Sensex's 0.05% fall. The scrip had, however, underperformed the market in past one quarter, rising 5.62% as against Sensex's 7.03% rise.

The small-cap company has an equity capital of Rs 63.82 crore. Face value per share is Rs 10.

Claris Lifesciences' consolidated net profit rose 33.59% to Rs 33.01 crore on 33.18% decline in net sales to Rs 129.58 crore in the quarter ended September 2013 over the quarter ended September 2012.

Claris Lifesciences is a sterile injectables pharmaceutical company with a market presence across 100 countries worldwide. The company manufactures and markets products across various therapeutic segments. A significant majority of these products are generic drugs that are capable of being directly injected into the human body and are predominantly used in the treatment of critical illnesses.

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