Strong Q1 result, liberal bonus issue triggers upmove in Divi's Lab

Divi's Laboratories jumped 6.25% to Rs 2,094.45 at 10:09 IST on BSE after net profit rose 45% to Rs 243 crore on 26% growth in total income to Rs 809 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced on Saturday, 8 August 2015.

Meanwhile, the S&P BSE Sensex was up 140.54 points or 0.5% at 28,376.93.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 12,826 shares in the past one quarter.

The stock hit a high of Rs 2,129.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,070.15 so far during the day. The stock had hit a 52-week low of Rs 1,449 on 12 August 2014.

The stock had outperformed the market over the past one month till 7 August 2015, advancing 3.43% compared with Sensex's 0.23% rise. The scrip had also outperformed the market in past one quarter, surging 14.26% as against Sensex's 6.16% rise.

The large-cap pharma company has equity capital of Rs 26.55 crore. Face value per share is Rs 2.

Divi's Laboratories reported a forex gain of Rs 21 crore in Q1 June 2015 as against a forex gain of Rs 1 crore in Q1 June 2014.

Divi's Laboratories' board of directors at its meeting held on Saturday, 8 August 2015, recommended 1:1 bonus issue of shares i.e. one equity share for every share held as on record date.

Divis 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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