Natco Pharma declines on profit booking

Natco Pharma dropped 3.46% to Rs 1,035.15 at 10:48 IST on BSE, with the stock sliding on profit booking after recent rally triggered by the company reporting strong Q4 earnings.

Meanwhile, the S&P BSE Sensex was down 129.70 points or 0.41% at 31,132.36.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 35,699 shares in the past one quarter. The stock had hit a high of Rs 1,078 and a low of Rs 1,012.80 so far during the day. The stock had hit a record high of Rs 1,080 on 9 June 2017 and a 52-week low of Rs 494 on 20 June 2016.

The stock had outperformed the market over the past one month till 9 June 2017, advancing 19.76% compared with the Sensex's 4.44% rise. The stock had also outperformed the market over the past one quarter, gaining 37.05% as against the Sensex's 8.06% rise. The scrip had also outperformed the market over the past one year, surging 106.11% as against the Sensex's 16.81% rise.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Shares of Natco Pharma had surged 14.85% in the preceding seven trading sessions to settle at Rs 1,072.30 on Friday, 9 June 2017, from its closing of Rs 933.65 on 31 May 2017. The rally was triggered by the company reporting strong Q4 March 2017 earnings after market hours on 30 May 2017.

Natco Pharma's consolidated net profit spurted 181.4% to Rs 176.70 crore on 46.5% increase in net sales to Rs 577.80 crore in Q4 March 2017 over Q4 March 2016.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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