Mangalam Drugs gains after good Q4 result

Mangalam Drugs & Organics rose 2.66% to Rs 198.40 at 11:30 IST on BSE after net profit rose 18.63% to Rs 6.56 crore on 17.52% growth in net sales to Rs 82.91 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 8 May 2017.

Meanwhile, the BSE Sensex was up 32.18 points, or 0.11%, to 29,958.33. The BSE Small-Cap index was up 91.93 points, or 0.59% to 15,554.51.

On the BSE, so far 44,000 shares were traded in the counter, compared with average daily volumes of 40,436 shares in the past one quarter. The stock had hit a high of Rs 202 and a low of Rs 196 so far during the day. The stock hit a 52-week high of Rs 239.90 on 10 May 2016. The stock hit a 52-week low of Rs 122.90 on 22 November 2016.

The stock had outperformed the market over the past one month till 8 May 2017, rising 31.55% compared with 0.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 22.58% as against Sensex's 5.61% rise.

The small-cap company has equity capital of Rs 15.83 crore. Face value per share is Rs 10.

Mangalam Drugs & Organics manufactures active pharma ingredients (APIs), intermediates and specialty chemicals.

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