Dishman Pharma gains after fixing record date for bonus issue

Dishman Pharmaceuticals and Chemicals rose 2.90% to Rs 353.50 at 9:26 IST on BSE after the company said that it fixed 3 May 2016 as the record date for the purpose of 1:1 bonus issue of shares.

The announcement was made after market hours yesterday, 21 April 2016.

Meanwhile, the BSE Sensex was down 81.03 points, or 0.31%, to 25,799.35 .

On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 1.87 lakh shares in the past one quarter. The stock hit a high of Rs 354.70 and a low of Rs 349.80 so far during the day. The stock hit a 52-week high of Rs 419.70 on 4 November 2015. The stock hit a 52-week low of Rs 126.05 on 3 June 2015. The stock had underperformed the market over the past one month till 21 April 2016, rising 1.21% compared with 2.35% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.96% as against Sensex's 8% rise.

The small-cap company has an equity capital of Rs 16.14 crore. Face value per share is Rs 2.

On a consolidated basis, net profit of Dishman Pharmaceuticals and Chemicals rose 95.30% to Rs 46.93 crore on 0.87% decline in net sales to Rs 382.47 crore in Q3 December 2015 over Q3 December 2014.

Dishman Pharmaceuticals and Chemicals is the global outsourcing partner for the pharmaceutical industry offering a portfolio of development, scale-up and manufacturing services. The products and services offered by the company spans from chemical development to commercial manufacture and supply of active pharmaceutical ingredients.

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