Bliss GVS Pharma tumbled 9.69% to Rs 34.50 at 9:55 IST on BSE after the company clarified that it is not in any discussion with Pfizer and that it has not given any mandate for discussion of sale of any of its units or stake in the company.
The company issued the clarification before market hours today, 3 October 2013.
Meanwhile, the S&P BSE Sensex was up 134.15 points or 0.69% at 19,651.30.
On BSE, 2.6 lakh shares were traded in the counter as against average daily volume of 28,682 shares in the past one quarter.
The stock witnessed high initial volatility. The stock lost as much as 17.8% at the day's low of Rs 31.40 so far during the day. The stock rose as much as 0.78% at the day's high of Rs 38.50 so far during the day. The stock had hit a 52-week low of Rs 25.70 on 28 March 2013. The stock had a 52-week high of Rs 44.05 on 12 November 2012.
The stock had outperformed the market over the past one month till 1 October 2013, surging 20.5% compared with the Sensex's 4.82% rise. The scrip had also outperformed the market in past one quarter, jumping 29.49% as against Sensex's 0.31% fall.
The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Re 1.
Bliss GVS Pharma's net profit rose 8.1% to Rs 18.25 crore on 15.7% growth in net sales to Rs 73.72 crore in Q1 June 2013 over Q1 June 2012.
Bliss GVS Pharma is engaged in manufacturing female contraceptives, soft pessaries and suppositories. The company's most popular product is 'Today' vaginal contraceptive pessaries. Bliss also manufactures to US specification vaginal pessaries of Clotrimazole & Povidone Iodine in addition to Anal Suppositories for treatment of Piles. The company also manufacturers wide range of pessary formulations, suppository formulations, calcium preparation, protein powders, iron preparation, antibiotics, analgesic & antipyretics, respiratory, anti-inflammatory, dermatological preparations and anti-diarrhoeal products.
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