Mangalam Drugs jumps after good Q2 results

Mangalam Drugs & Organics rose 3.55% to Rs 157.60 at 14:38 IST on BSE after net profit rose 30% to Rs 6.69 crore on 8.78% increase in revenue from operations to Rs 83.14 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during trading hours today, 20 November 2017.

Meanwhile, the S&P BSE Sensex was up 53.68 points, or 0.16% to 33,396.48.

On the BSE, 64,000 shares were traded in the counter so far, compared with average daily volumes of 16,099 shares in the past one quarter. The stock had hit a high of Rs 161.85 and a low of Rs 150 so far during the day. The stock hit a 52-week high of Rs 214.85 on 25 April 2017. 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 17 November 2017, rising 4.28% compared with 2.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.61% as against Sensex's 5.77% rise. The scrip had underperformed the market in past one year, rising 10.05% as against Sensex's 27.50% rise.

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

Mangalam Drugs & Organics is focused in manufacturing active pharma ingredients (APIs), intermediates and specialty chemicals.

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