Ind-Swift Lab gains on mulling preferential allotment to promoters

Ind-Swift Laboratories rose 2.04% to Rs 27.45 at 9:42 IST on BSE after the company said its board of directors will meet on 9 October 2015, to consider preferential issue of shares to promoters in terms of corporate debt restructuring package.

The announcement was made after market hours yesterday, 7 October 2015.

Meanwhile, the S&P BSE Sensex was down 58.33 points or 0.22% at 26,977.52.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 83,000 shares in the past two weeks.

The stock hit a high of Rs 29.50 and a low of Rs 26.80 so far during the day. The stock had hit a 52-week high of Rs 44.80 on 6 August 2015. The stock had hit a 52-week low of Rs 22.05 on 17 December 2014.

Ind-Swift Laboratories reported a net loss of Rs 16.32 crore in Q1 June 2015, lower than net loss of Rs 17.12 crore in Q1 June 2014. Net sales declined 7.8% to Rs 169.69 crore in Q1 June 2015 over Q1 June 2014.

Ind-Swift Laboratories is a part of the Ind-swift Group. The company manufactures and sells active pharmaceutical ingredients (APIs).

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