Elder Pharma in the pink of health

The announcement was made after market hours on Monday, 1 July 2013.

Meanwhile, the S&P BSE Sensex was down 24 points or 0.12% at 19,553.39.

On BSE, 29,000 shares were traded in the counter as against average daily volume of 61,429 shares in the past one quarter.

The stock hit a high of Rs 350.90 and a low of Rs 337.55 so far during the day. The stock had hit a record high of Rs 474 on 5 December 2012. The stock had hit a 52-week low of Rs 202.15 on 14 May 2013.

The stock had outperformed the market over the past one month till 1 July 2013, surging 7.98% compared with the Sensex's 0.93% slide. The scrip had also outperformed the market in past one quarter, jumping 15.44% as against Sensex's 3.78% rise.

The small-cap company has equity capital of Rs 20.54 crore. Face value per share is Rs 10.

Max Healthcare is an over-the-counter (OTC) business which owns a range of marketing authorisations and provides own label and branded OTC medicines and products to a broad range of customers. Max Healthcare will be a subsidiary of NutraHealth and will be managed in parallel with its subsidiary Brunel Healthcare Manufacturing.

Max Healthcare is predominantly an outsourced operation with most of its manufacturing taking place in India. Opportunities for Elder Pharmaceuticals to collaborate in the supply chain will be explored and vertical integration will be exploited wherever possible, Elder Pharma said. The company did not disclose the deal size.

Elder Pharmaceuticals' consolidated net profit rose 15.3% to Rs 20.99 crore on 6.6% decline in net sales to Rs 322.74 crore in Q4 March 2013 over Q4 March 2012.

Elder Pharmaceuticals is a Mumbai-based pharmaceutical manufacturing and marketing organization.

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