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Eris Lifesciences gains on mulling buyback

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Capital Market 

Eris Lifesciences was up 1.48% to Rs 519.90 at 10:01 IST on the BSE after the company said its board will consider share buyback on 3 July 2019.

The announcement was made after market hours yesterday, 24 June 2019.

Meanwhile, the S&P BSE Sensex was down by 3.98 points, or 0.01% to 39,118.98.

On the BSE, 4765 shares were traded in the counter so far compared with average daily volumes of 596 shares in the past two weeks. The stock had hit a high of Rs 539 and a low of Rs 516.95 so far during the day. It hit a 52-week high of Rs 798.80 on 27 August 2018 and a 52-week low of Rs 475 on 19 June 2019.

On a consolidated basis, Eris Lifesciences' net profit fell 3.9% to Rs 53.88 crore on a 1.5% rise in the net sales to Rs 211.09 crore in Q4 March 2019 over Q4 March 2018.

Eris Lifesciences is engaged in manufacturing, marketing and selling of generics within the chronic and acute categories of the Indian pharmaceutical market.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, June 25 2019. 10:03 IST