Unichem Lab in pink of health as board to consider share buyback

Unichem Laboratories gained 4.73% to Rs 348.60 at 9:35 IST on BSE after the company said that the board of directors will meet on 8 January 2018 to consider a proposal to buy-back the fully paid-up equity shares of the company.

The company made the announcement after market hours yesterday, 3 January 2018.

Meanwhile, the S&P BSE Sensex was up 55.31 points, or 0.16% to 33,848.69. The S&P BSE Small-Cap index was up 122.19 points, or 0.63% to 19,467.65, outperforming the Sensex.

On the BSE, 62,759 shares were traded in the counter so far, compared with average daily volumes of 63,379 shares in the past one quarter. The stock had hit a high of Rs 355 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 345 so far during the day. The stock had hit a 52-week low of Rs 234.10 on 11 August 2017.

The small-cap company has equity capital of Rs 18.19 crore. Face value per share is Rs 2.

Unichem Laboratories' met profit jumped 123.3% to Rs 45.82 crore on 17.5% rise in net sales to Rs 428.12 crore in Q2 September 2017 over Q2 September 2016.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world. In India, the company is a leader in niche therapy areas of cardiology, neurology, orthopedics and anti-infectives. The company has strong skills in product development, process chemistry and manufacturing of complex API as well as dosage forms.

Powered by Capital Market - Live News