Jenburkt Pharma spurts on buyback plan

Jenburkt Pharmaceuticals rose 10.62% to Rs 460 at 11:06 IST on BSE after the company said its board will meet on 9 September 2017 to consider matters related to buyback of equity shares.

The announcement was made during trading hours today, 5 September 2017.

Meanwhile, the S&P BSE Sensex was up 97.59 points, or 0.31% to 31,799.84.

On the BSE, 44,000 shares were traded in the counter so far, compared with average daily volumes of 6,058 shares in the past one quarter. The stock had hit a high of Rs 466 and a low of Rs 405 so far during the day. The stock hit a record high of Rs 572.50 on 4 November 2016. The stock hit a 52-week low of Rs 345 on 12 September 2016.

The stock had underperformed the market over the past one month till 4 September 2017, falling 14.94% compared with 1.93% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.11% as against Sensex's 1.64% rise. The scrip had outperformed the market in past one year, rising 15.90% as against Sensex's 11.11% rise.

The small-cap company has equity capital of Rs 4.65 crore. Face value per share is Rs 10.

Jenburkt Pharmaceuticals reported net loss of Rs 2.88 crore in Q1 June 2017, compared with net profit of Rs 1.95 crore in Q1 June 2016. Net sales fell 23.8% to Rs 16.99 crore in Q1 June 2017 over Q1 June 2016.

Jenburkt Pharmaceuticals is engaged in the manufacture of pharmaceutical formulations. The company offers prescription and over-the-counter drugs.

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