Weakness prevails in Shasun Pharma counter

The announcement was made during trading hours on Monday, 17 June 2013. The stock has fallen 9.94% in three sessions from Rs 64.40 on 14 June 2013.

Meanwhile, the S&P BSE Sensex was up 18.30 points, or 0.10%, to 19,241.58.

On BSE, 1.48 lakh shares were traded in the counter as against an average daily volume of 1.02 lakh shares in the past one quarter.

The stock hit a high of Rs 60.45 and a low of Rs 56.70 so far during the day. The stock had hit a 52-week low of Rs 55.50 on Tuesday, 18 June 2013. The stock had hit a record high of Rs 185.90 on 10 September 2012.

The stock had underperformed the market over the past one month till 18 June 2013, sliding 25.68% compared with the Sensex's 5.24% fall. The scrip had also underperformed the market in past one quarter, falling 18.71% as against Sensex's 0.36% fall.

The small-cap company has an equity capital of Rs 11.32 crore. Face value per share is Rs 2.

Shasun Pharmaceuticals announced that an illegal strike was resorted by the workers at the Pondicherry's active pharmaceutical ingredients (API) and formulations facility on 15 June 2013. The company said it is doing needful to resume the operations at the earliest.

Shasun Pharmaceuticals' consolidated net profit fell 77.5% to Rs 13.26 crore on 9.4% fall in net sales to Rs 261.45 crore in Q4 March 2013 over Q4 March 2012.

Shasun is an integrated, leading global supplier of development and manufacturing services for intermediates, API and formulations to the pharmaceutical industry.

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