Strong Q1 earnings boost Divi's Lab

Divi's Laboratories surged 5.86% to Rs 1,260 at 14:49 IST on BSE after net profit rose 23% to Rs 302 crore on 25% growth in total income to Rs 1008 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours on Friday, 12 August 2016.

Meanwhile, the S&P BSE Sensex was down 74.98 points or 0.27% at 28,077.42.

On BSE, so far 86,000 shares were traded in the counter as against average daily volume of 45,131 shares in the past one quarter. The stock hit a high of Rs 1,279.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,200 so far during the day. The stock had hit a 52-week low of Rs 918.10 on 29 February 2016. The stock had outperformed the market over the past one month till 12 August 2016, advancing 2.44% compared with 1.24% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 11.9% as against Sensex's 9.16% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

There was a forex gain of Rs 0.73 crore in Q1 June 2016 compared with a forex gain of Rs 21 crore in Q1 June 2015.

Divi's Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of API's and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.

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