AstraZeneca Pharma India fell 3.48% to Rs 1,107.75 at 14:40 IST on BSE, with the stock sliding on profit booking after recent sharp rally.
Meanwhile, the S&P BSE Sensex was down 2.95 points or 0.01% at 26,368.03.
On BSE, so far 74,000 shares were traded in the counter as against average daily volume of 8,733 shares in the past one quarter.
The stock hit a high of Rs 1,187 and a low of Rs 1,080.70 so far during the day. The stock had hit a 52-week low of Rs 785.30 on 17 December 2014. The stock had hit a 52-week high of Rs 1,245 on 23 June 2014.
The stock had outperformed the market over the past one month till 11 June 2015, rising 28.11% compared with Sensex's 4.13% fall. The scrip had also outperformed the market in past one quarter, advancing 26% as against Sensex's 7.98% fall.
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The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.
Shares of AstraZeneca Pharma India had rallied a whopping 27.07% in three trading sessions to settle at Rs 1,147.70 yesterday, 11 June 2015, from a recent low of Rs 903.15 on 8 June 2015. Major portion of the rally materialized after the company during market hours yesterday, 11 June 2015, announced the launch of Forxiga (dapaglifozin), a breakthrough treatment for Type 2 diabetes mellitus. The stock had rallied by the maximum permissible level of 20% to settle at Rs 1,147.70 yesterday, 11 June 2015.
Globally, Forxiga is the first medicine in the new SGLT2 inhibitor class to gain regulatory approval for the treatment of Type 2 diabetes mellitus, AstraZeneca Pharma India said in a statement.
AstraZeneca Pharma India reported net profit of Rs 38.13 crore in Q4 March 2015 compared with net loss of Rs 2.57 crore in Q4 March 2014. Net sales rose 5.8% to Rs 120.80 crore in Q4 March 2015 over Q4 March 2014.
In India, AstraZeneca has been successfully growing its presence in important therapeutic areas of diabetes, cardiovascular, infection, respiratory and oncology.
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