Vivimed Labs hits roof after block deal

Vivimed Labs hit an upper circuit limit of 20% at Rs 102.65 at 14:17 IST on BSE after a block deal of 36 lakh shares, or 4.44% equity, was struck at Rs 90.50 per share at 13:02 IST on NSE.

Meanwhile, the BSE Sensex was up 5.62 points, or 0.02%, to 28,299.90.

On BSE, so far 22.18 lakh shares were traded in the counter, compared with average daily volume of 69,351 shares in the past one quarter. The stock was currently frozen at the record high level for the counter. The stock hit a low of Rs 86.75 in intraday trade. The stock hit a 52-week low of Rs 58.40 on 28 September 2015. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 16% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.31% as against Sensex's 6.67% rise.

The small-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

On a consolidated basis, Vivimed Labs' net profit rose 15.27% to Rs 27.86 crore on 10.65% growth in net sales to Rs 366.83 crore in Q1 June 2016 over Q1 June 2015.

Vivimed Labs is a leading manufacturer and exporter of specialty chemicals mainly used in the personal-care and pharmaceutical industries.

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