Ipca Lab drops on profit booking

Ipca Laboratories fell 2.49% to Rs 684 at 13:40 IST on BSE, with the stock declining on profit booking after gaining 13.8% in prior seven trading days.

Meanwhile, the S&P BSE Sensex was down 107.55 points or 0.37% at 29,212.71

On BSE, so far 66,182 shares were traded in the counter as against average daily volume of 42,712 shares in the past one quarter.

The stock hit a high of Rs 714 and a low of Rs 683.15 so far during the day. The stock had hit a record high of Rs 906.90 on 28 February 2014. The stock had hit a 52-week low of Rs 591.25 on 9 February 2015.

The stock had underperformed the market over the past one month till 18 February 2015, falling 1.55% compared with 4.26% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.04% as against Sensex's 4.11% rise.

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

Shares of Ipca Laboratories were on a roll recently, gaining 13.8% in seven trading days to settle at Rs 701.50 on 18 February 2015 from a recent low of Rs 616.40 on 6 February 2015.

Ipca Laboratories' net profit fell 70.1% to Rs 41.53 crore on 10.7% decline in net sales to Rs 734.13 crore in Q3 December 2014 over Q3 December 2013.

Ipca Laboratories is vertically integrated and produces finished dosage forms and active pharmaceuticals ingredients.

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