Indoco Remedies surged 5.01% to Rs 302 at 10:21 IST on BSE after Reliance Fund purchased bulk shares of the company yesterday, 22 January 2018.
Meanwhile, the S&P BSE Sensex was up 237.89 points or 0.66% at 36,035.90. The S&P BSE Small-Cap index gained 0.6%, underperforming the Sensex.
On the BSE, 43,000 shares were traded on the counter so far as against average daily volumes of 93,796 shares in the past one quarter. The stock had hit a high of Rs 303 and a low of Rs 293 so far during the day. The stock had hit a 52-week high of Rs 314 on 23 November 2017 and a 52-week low of Rs 179 on 31 May 2017.
The small-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.
Reliance Capital Trustee Co A/C Reliance Growth Fund bought 12.11 lakh shares of Indoco Remedies at Rs 275 per share in a bulk deal on the BSE yesterday, 22 January 2018. Reliance Pharma Fund owned 1.87% stake end December 2017.
Indoco Remedies' net profit fell 10.7% to Rs 19.76 crore on 1.3% growth in net sales to Rs 280.04 crore in Q2 September 2017 over Q2 September 2016.
Indoco Remedies is a fully integrated, research-oriented pharma company engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs).
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