IPCA Lab drops after recent rally

IPCA Laboratories lost 1.52% to Rs 849.20 at 13:06 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 279.38 points or 1.28% at 22,034.70.

On BSE, so far 7,728 shares were traded in the counter as against average daily volume of 20,132 shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.15% at the day's low of Rs 835.10 so far during the day. The stock rose as much as 0.77% at the day's high of Rs 869 so far during the day. The stock had hit a 52-week low of Rs 492 on 15 April 2013. The stock had hit a record high of Rs 906.90 on 28 February 2014.

The stock had underperformed the market over the past one month till 22 March 2014, sliding 2.87% compared with Sensex's 5.09% rise. The scrip had, however, outperformed the market in past one quarter, surging 22.48% as against Sensex's 3.2% rise.

The large-cap company has equity capital of Rs 25.24 crore. Face value per share is Rs 2.

Shares of IPCA Laboratories had rallied 5.9% in four trading sessions to settle at Rs 862.35 on Saturday, 22 March 2014, from a recent low of Rs 814.30 on 18 March 2014. A special live trading session was held on Saturday, 22 March 2014, as the National Stock Exchange (NSE) was testing its software.

IPCA Laboratories' net profit jumped 58.3% to Rs 139.12 crore on 17.7% growth in net sales to Rs 815.15 crore in Q3 December 2013 over Q3 December 2012.

IPCA Laboratories is a pharmaceutical company with a strong thrust on exports, which now accounts for 62% of the company's income. IPCA is vertically integrated and produces finished dosage forms and active pharmaceutical ingredients.

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