Divi's Lab rises on healthy Q4 nos, dividend bounty

Divis Laboratories has rallied 5% at Rs 863 in opening deals after the board of directors of the pharmaceutical company has recommended a dividend of 650% or Rs 13 per share for the financial year 2011-12.

Meanwhile, the company ahs reported a 24% year-on-year (y-o-y) growth in net profit at Rs 216 crore for the quarter ended March 31, 2012, on back of higher operational income. Total income grew 50% at Rs 722 crore on y-o-y basis.

A combined 15,000 shares have changed hands on the counter on operating deals on both the exchanges.