Natco Pharma nudges higher after picking up stake in OMRV Hospitals

Natco Pharma gained 1.08% to Rs 964.80 at 11:15 IST on BSE after the company announced that it has executed definitive agreement and subscribed to 7.5% of the paid-up equity share capital of OMRV Hospitals.

The announcement was made on Saturday, 4 November 2017.

Meanwhile, the S&P BSE Sensex was up 7.29 points, or 0.02% to 33,692.85.

On the BSE, 17,935 shares were traded in the counter so far, compared with average daily volumes of 64,495 shares in the past one quarter. The stock had hit a high of Rs 979.85 and a low of Rs 960 so far during the day. The stock had hit a record high of Rs 1,080 on 9 June 2017. The stock hit a 52-week low of Rs 495 on 9 November 2016.

The stock had outperformed the market over the past one month till 3 November 2017, gaining 20.02% compared with 6.95% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 1.11% as against Sensex's 4.49% rise. The scrip had, however, outperformed the market in past one year, jumping 64.65% as against Sensex's 22.8% rise.

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

Natco Pharma said that the investment amount was Rs 7.5 crore. OMRV operates under the brand name of PACE Hospital which is a super specialty hospital presently operating in Hyderabad, Telangana and focused on tertiary care services in the field of medical and surgical gastroenterology, hepatology, nephrology, urology, GI oncology and andrology.

Natco Pharma's consolidated net profit rose 27.5% to Rs 84.4 crore on 7.3% fall in net sales to Rs 426.70 crore in Q2 September 2017 over Q2 September 2016.

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

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