Sharon Bio-Medicine surges after strong Q2 earnings

Sharon Bio-Medicine rose 3.46% to Rs 382.70 at 14:22 IST on BSE after consolidated net profit rose 21.3% to Rs 16.20 crore on 34.3% growth in net sales to Rs 340.04 crore in Q2 December 2013 over Q2 December 2012.

The Q2 result was announced on Saturday, 8 February 2014.

Meanwhile, the S&P BSE Sensex was down 6.97 points or 0.03% at 20,369.59.

On BSE, so far 34,000 shares were traded in the counter as against average daily volume of 29,102 shares in past one quarter.

The stock hit a high of Rs 389 and a low of Rs 375 so far during the day. The stock had hit a 52-week high of Rs 457.80 on 8 January 2014. The stock had hit a 52-week low of Rs 272.70 on 20 November 2013.

The stock had underperformed the market over the past one month till 7 February 2014, sliding 15.06% compared with the Sensex's 1.53% fall. The scrip had, however, outperformed the market in past one quarter, surging 26.14% as against Sensex's 2.14% fall.

The small-cap company has equity capital of Rs 10.56 crore. Face value per share is Rs 10.

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

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