Divis Labs sheds 14% in two days, hits 52-week low post Q4 results

The company has earmarked an aggressive capex of around Rs 2,000 crore over next two years in order to take a chunk of around $20 billion opportunity of APIs going off-patent over FY23-25.

Shares of Divis Laboratories hit a 52-week low of Rs 3,708, down 4 per cent on the BSE in Tuesday’s trade so far. The stock has slipped 14 per cent in the past two trading days despite the pharmaceutical company delivering a better-than-expected March quarter (Q4FY22) results, with the highest-ever quarterly sales and earnings before interest, taxes, depreciation, and amortization (EBITDA). The board recommended a dividend of Rs 30 per share of face value Rs 2 each i.e., 1500 per cent for the financial year 2021-22.

The stock has fallen below its previous low of Rs 3,790 touched on