Shasun Pharma spurts 9% in 2 days

Shasun Pharmaceuticals surged 3.31% to Rs 64 at 12:30 IST on BSE, with the stock extending Friday's 5.53% gains triggered by the company successfully completing MHRA inspection during the third week of August 2013.

Meanwhile, the S&P BSE Sensex was up 231.96 points or 1.25% at 18,851.68.

On BSE, 42,000 shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter.

The stock hit a high of Rs 64.85 and a low of Rs 62.25 so far during the day. The stock had hit a record high of Rs 185.90 on 10 September 2012. The stock had hit a 52-week low of Rs 45.60 on 26 June 2013.

The stock had outperformed the market over the past one month till 30 August 2013, surging 4.12% compared with the Sensex's 3.77% fall. The scrip had, however, underperformed the market in past one quarter, sliding 15.48% as against Sensex's 7.89% fall.

The small-cap company has equity capital of Rs 11.32 crore. Face value per share is Rs 2.

Shares of Shasun Pharmaceuticals have risen 9.02% in two trading sessions from Rs 58.70 on 29 August 2013, after the company during trading hours on Friday, 30 August 2013, said it has successfully completed MHRA inspection during the third week of August 2013. The stock had surged 5.53% to settle at Rs 61.95 on Friday, 30 August 2013.

Shasun Pharmaceuticals said that the main focus of MHRA inspection was to conduct cGMP audit for the company's formulation facility.

Shasun Pharmaceuticals reported a consolidated net loss of Rs 6.57 crore in Q1 June 2013, as against net profit of Rs 13.82 crore in Q1 June 2012. Net sales declined 13.5% to Rs 216.70 crore in Q1 June 2013 over Q1 June 2012.

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

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