Veerhealth Care jumps over 8% in two sessions

Veerhealth Care rose 3.47% to Rs 19.10 at 11:30 IST on BSE, extending yesterday's rise triggered by the company's plan to expand its manufacturing facility with an investment of Rs 10 crore.

The announcement was made during trading hours yesterday, 27 December 2017. Shares of Veerhealth Care rose 4.53% to settle at Rs 18.46 yesterday, 27 December 2017. The stock has risen 8.15% in two sessions from its close of Rs 17.66 on 26 December 2017.

Meanwhile, the S&P BSE Sensex was up 10.35 points, or 0.03% to 33,922.16.

On the BSE, 1.09 lakh shares were traded in the counter so far, compared with average daily volumes of 73,000 shares in the past two weeks. The stock had hit a high of Rs 19.27 and a low of Rs 18.36 so far during the day. The stock hit a 52-week high of Rs 19.42 on 27 December 2017. The stock hit a 52-week low of Rs 9 on 16 November 2017.

Veerhealth Care said it has purchased industrial plot at Vapi in Gujarat for expansion of its existing capacity. The company will construct and set up factory on the industrial plot and install new machines for increasing production capacity. The estimated cost for setting up new unit at Vapi will be around Rs 10 crore.

Net profit of Veerhealth Care rose 628.6% to Rs 0.51 crore on 364.3% rise in net sales to Rs 1.30 crore in Q2 September 2017 over Q2 September 2016.

Veerhealth Care is engaged in manufacturing and marketing research-based Ayurvedic medicines.

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