Amrutanjan, Pfizer, Merck, Novartis hit new highs
Amrutanjan Health Care, Pfizer, Merck and Novartis India have rallied up to 18% on the BSE in intra-day trade.
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Photo courtesy: Reuters
Shares of selected pharmaceutical companies were in focus with Amrutanjan Health Care, Pfizer, Merck and Novartis India rallying up to 18% on the BSE in otherwise subdued market. All these stocks were trading at their respective all-time highs.
Pfizer has surged 16% to Rs 3,385 on the BSE. Thus far in month of August, the stock has rallied 27% after the company reported 60% year on year (YoY) growth in net profit at Rs 918 million in June quarter. Operational revenue grew 18% at Rs 5,123 million on YoY basis. The sales growth and profit growth for the quarter is due to low base of the previous year quarter on account of pre-GST transition.
Pfizer had delivered 13% growth (excluding impact of Corex Cough Syrup discontinuation, divested brands and excise duty component up to June 2017) for the last financial year 2017-18, while the industry has grown at 6.3%.
Amrutanjan Health Care has rallied 18% to Rs 347 on Friday, extending its Thursday’s 20% surged on back of heavy volumes. Till 01:50 pm; a combined 1.68 million equity shares changed hands against an average sub 20,000 shares were traded daily in past two weeks on the NSE and BSE.
Pfizer has surged 16% to Rs 3,385 on the BSE. Thus far in month of August, the stock has rallied 27% after the company reported 60% year on year (YoY) growth in net profit at Rs 918 million in June quarter. Operational revenue grew 18% at Rs 5,123 million on YoY basis. The sales growth and profit growth for the quarter is due to low base of the previous year quarter on account of pre-GST transition.
Pfizer had delivered 13% growth (excluding impact of Corex Cough Syrup discontinuation, divested brands and excise duty component up to June 2017) for the last financial year 2017-18, while the industry has grown at 6.3%.
Amrutanjan Health Care has rallied 18% to Rs 347 on Friday, extending its Thursday’s 20% surged on back of heavy volumes. Till 01:50 pm; a combined 1.68 million equity shares changed hands against an average sub 20,000 shares were traded daily in past two weeks on the NSE and BSE.