Panacea Biotec recovers on bargain hunting

Panacea Biotec advanced 3.33% to Rs 326 at 13:56 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 103.26 points or 0.31% at 33,806.85. The S&P BSE Small-Cap index fell 0.26%, underperforming the Sensex.

On the BSE, 71,000 shares were traded on the counter so far as against average daily volumes of 75,212 shares in the past one quarter. The stock had hit a high of Rs 334.50 and a low of Rs 316 so far during the day. The stock had hit a 52-week high of Rs 364 on 14 February 2018 and a 52-week low of Rs 129.10 on 25 May 2017.

The stock had outperformed the market over the past one month till 20 February 2018, gaining 16.77% compared with the Sensex's 5.09% fall. The stock had also outperformed the market over the past one quarter, advancing 26.07% as against the Sensex's 1.03% rise. The scrip had also outperformed the market over the past one year, surging 98.74% as against the Sensex's 17.59% rise.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Rs 1.

Shares of Panacea Biotec had slumped 10.18% in the previous three trading sessions to settle at Rs 315.50 yesterday, 20 February 2018, from its closing of Rs 351.25 on 15 February 2018.

Panacea Biotec reported a net loss of Rs 9.71 crore in Q3 December 2017, lower than net loss of Rs 25.42 crore in Q3 December 2016. Net sales rose 48.8% to Rs 152.16 crore in Q3 December 2017 over Q3 December 2016.

Panacea Biotec is a leading research based biotechnology company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and Biotechnology companies in India.

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