Divi's Lab declines after weak Q3 earnings

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Divi's Laboratories was down 2.05% to Rs 1,099.05 at 11:54 IST on BSE after net profit fell 16.3% to Rs 224.66 crore on 6.3% growth in net sales to Rs 1037.88 crore in Q3 December 2017 over Q3 December 2016.

The result was announced on Saturday, 27 January 2018.

Meanwhile, the S&P BSE Sensex was up 341.14 points or 0.95% at 36,391.58.

On the BSE, 22,000 shares were traded on the counter so far as against average daily volumes of 86,963 shares in the past one quarter. The stock had hit a high of Rs 1,122 and a low of Rs 1,082 so far during the day. The stock had hit a 52-week high of Rs 1,141.75 on 27 December 2017 and a 52-week low of Rs 533.10 on 29 May 2017.

The stock had underperformed the market over the past one month till 25 January 2018, gaining 3.04% compared with the Sensex's 6.22% rise. The stock had, however, outperformed the market over the past one quarter, advancing 28.79% as against the Sensex's 9.1% rise. The scrip had also outperformed the market over the past one year, surging 66.52% as against the Sensex's 30.11% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divi's Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of API's and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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