IPCA Laboratories skids on profit booking

IPCA Laboratories slumped 5.85% to Rs 539.25 at 15:00 IST on BSE on profit booking after surging 16.5% to Rs 572.75 yesterday, 21 September 2017.

Meanwhile, the S&P BSE Sensex was down 401.05 points, or 1.24% to 31,968.99. The S&P BSE Mid-Cap index was down 400.40 points, or 2.5% to 15,643.81.

High volumes were witnessed on the counter. On the BSE, 2.7 lakh shares were traded in the counter so far, compared with average daily volumes of 34,695 shares in the past one quarter. The stock had hit a high of Rs 597.40 and a low of Rs 535.05 so far during the day. The stock had hit a 52-week high of Rs 656 on 5 April 2017. The stock had hit a 52-week low of Rs 400 on 11 August 2017.

The stock had outperformed the market over the past one month till 21 September 2017, gaining 39.78% compared with the 3.55% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.64% as against Sensex's 3.47% gains. The stock had, however, underperformed the market over the past one year, dropping 3.03% compared with the 13.55% gains in the Sensex.

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

IPCA Laboratories reported net loss of Rs 20.25 crore in Q1 June 2017 compared with net profit of Rs 47.57 crore in Q1 June 2016. Net sales fell 16.6% to Rs 712.96 crore in Q1 June 2017over Q1 June 2016.

IPCA Laboratories is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 Active Pharmaceutical Ingredients (APIs) for various therapeutic segments.

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