Shasun Pharma gains on bargain hunting

Shasun Pharmaceuticals rose 2.06% to Rs 332 at 14:48 IST on BSE on bargain hunting after the stock fell 12.66% in the preceding seven trading sessions to Rs 325.30 yesterday, 9 September 2015, from a recent high of Rs 372.45 on 31 August 2015.

Meanwhile, the BSE Sensex was down 207.57 points, or 0.81%, to 25,512.01.

On BSE, so far 13,000 shares were traded in the counter, compared with an average volume of 28,697 shares in the past one quarter.

The stock hit a high of Rs 336.55 and a low of Rs 312.75 so far during the day. The stock hit a record high of Rs 415.95 on 20 August 2015. The stock hit a 52-week low of Rs 175 on 7 October 2014.

The stock had underperformed the market over the past one month till 9 September 2015, sliding 18.68% compared with 8.91% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.50% as against Sensex's 2.88% decline.

The small-cap company has an equity capital of Rs 13.44 crore. Face value per share is Rs 2.

On a consolidated basis, Shasun Pharmaceuticals reported net profit of Rs 3.80 crore in Q1 June 2015 as against net loss of Rs 4.79 crore in Q1 June 2014. Net sales rose 6.47% to Rs 319.17 crore in Q1 June 2015 over Q1 June 2014.

Shasun is an integrated, leading global supplier of development and manufacturing services for intermediates, API (active pharmaceutical ingredients) and formulations to the pharmaceutical industry.

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