Orchid Chemicals extends recent rally on USFDA nod for Chennai unit

Meanwhile, the S&P BSE Sensex was down 22.81 points, or 0.12%, to 19,200.47.

On BSE, 1.14 lakh shares were traded in the counter as against an average daily volume of 1.71 lakh shares in the past one quarter.

The stock hit a high of Rs 58.65 and a low of Rs 55.05 so far during the day. The stock had hit a 52-week high of Rs 131.85 on 20 July 2012. The stock had hit a 52-week low of Rs 46.75 on 13 June 2013.

The stock is up 20.67% in three trading sessions from Rs 47.90 on Friday, 14 June 2013. The stock had underperformed the market over the past one month till 18 June 2013, sliding 10.4% compared with the Sensex's 5.24% fall. The scrip had also underperformed the market in past one quarter, falling 24.02% as against Sensex's 0.36% fall.

The small-cap pharmaceuticals company has an equity capital of Rs 70.45 crore. Face value per share is Rs 10.

Orchid Chemicals & Pharmaceuticals announced during market hours on Monday, 17 June 2013, that the company's oral formulations facility at Irungattukottai near Chennai was successfully inspected and accepted by the US Food and Drug Administration (USFDA) without any observations.

The Irungattukottai facility manufactures various types of dosage forms such as oral tablets and capsules in diverse dosage strengths and product categories, the company said.

Orchid Chemicals & Pharmaceuticals reported net loss of Rs 132.27 crore in Q4 March 2013, as against net profit of Rs 20.55 crore in Q4 March 2012. Net sales declined 40.7% to Rs 268.16 crore in Q4 March 2013 over Q4 March 2012.

Orchid Chemicals & Pharmaceuticals is involved in the development, manufacture and marketing of diverse bulk activities, formulations and nutraceuticals.

Powered by Capital Market - Live News