Sharon Bio-Medicine jumps after strong Q4 results

Sharon Bio-Medicine surged 3.05% to Rs 72.70 at 14:51 IST on BSE after consolidated net profit jumped 37.66% to Rs 20.54 crore on 7.45% growth in net sales to Rs 349.51 crore in Q4 June 2014 over Q4 June 2013.

The Q4 result was announced on Saturday, 30 August 2014.

Meanwhile, the S&P BSE Sensex was up 215.63 points or 0.81% at 26,853.74.

On BSE, so far 69,000 shares were traded in the counter as against average daily volume of 3.64 lakh shares in the past one quarter.

The stock hit a high of Rs 74.95 and a low of Rs 72.70 so far during the day. The stock had hit a record high of Rs 83.30 on 6 August 2014. The stock had hit a 52-week low of Rs 27.27 on 20 November 2013.

The stock had outperformed the market over the past one month till 28 August 2014, advancing 2.69% compared with Sensex's 2.49% rise. The scrip had also outperformed the market in past one quarter, galloping 55.23% as against Sensex's 8.48% rise.

The small-cap company has equity capital of Rs 21.11 crore. Face value per share is Rs 2.

Sharon Bio-Medicine's consolidated net profit jumped 30.94% to Rs 70.32 crore on 23.4% growth in net sales to Rs 1324.79 crore in the year ended 30 June 2014 over the year ended 30 June 2013.

Sharon Bio-Medicine is involved in manufacture of intermediates, active pharmaceutical ingredients and finished dosage forms.

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