Natco Pharma drops after recent steep rally

Natco Pharma lost 1.32% to Rs 788.50 at 13:06 IST on BSE, with the stock sliding on profit booking after a recent steep rally.

Meanwhile, the S&P BSE Sensex was up 30.93 points or 0.15% at 20,881.67.

On BSE, 13,000 shares were traded in the counter as against average daily volume of 18,859 shares in the past one quarter.

The stock hit a high of Rs 810 and a low of Rs 783.95 so far during the day. The stock had hit a record high of Rs 826 on 14 November 2013. The stock had hit a 52-week low of Rs 390 on 16 May 2013.

The stock had outperformed the market over the past one month till 18 November 2013, surging 12.18% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, advancing 29.4% as against Sensex's 12.11% rise.

The small-cap company has equity capital of Rs 31.37 crore. Face value per share is Rs 10.

Shares of Natco Pharma had witnessed a pre-result rally. The stock had spurted 14.53% in five trading sessions to settle at Rs 792.45 on Thursday, 14 November 2013 from a recent low of Rs 691.90 on 7 November 2013 ahead of the company reporting Q2 September 2013 results after market hours on Thursday, 14 November 2013. The stock had risen 0.83% to settle at Rs 799.05 on Monday, 18 November 2013. The stock market was closed on Friday, 15 November 2013 on account of Muharram.

Natco Pharma's consolidated net profit rose 28.57% to Rs 27 crore on 1.57% decline in revenue to Rs 188 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) margins have expanded to 31% of the revenue in Q2 September 2013, from 26% of revenue in Q2 September 2012.

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

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