Hikal declines on profit booking

Hikal fell 2.99% to Rs 746.50 at 14:26 IST on BSE, with the stock sliding on profit booking after recent rally after the company said it has fixed 2 March 2015 record date for 5-for-1 stock split.

Meanwhile, the S&P BSE Sensex was down 121.94 points or 0.42% at 29,198.32.

On BSE, so far 718 shares were traded in the counter as against average daily volume of 3,689 shares in the past one quarter.

The stock hit a high of Rs 783 and a low of Rs 746.50 so far during the day. The stock had hit a record high of Rs 835 on 2 January 2015. The stock had hit a 52-week low of Rs 427.20 on 16 May 2014.

The stock had underperformed the market over the past one month till 18 February 2015, declining 0.09% compared with Sensex's 4.26% rise. The scrip had, however, outperformed the market in past one quarter, jumping 9.29% as against Sensex's 4.11% rise.

Shares of Hikal had rallied 9.47% in three trading sessions to settle at Rs 769.50 yesterday, 18 February 2015, from a recent low of Rs 702.90 on 12 February 2015.

Hikal's net profit declined 8.9% to Rs 9.37 crore on 4% growth in net sales to Rs 225.05 crore in Q3 December 2014 over Q3 December 2013.

Hikal partners companies in the pharmaceuticals, biotech, agrochemicals and specialty chemicals industries. It provides active ingredients, intermediates and R&D services and solutions.

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