Natco Pharma gained 2.38% to Rs 2,350 at 13:40 IST on BSE after consolidated net profit rose 126.64% to Rs 54.44 crore on 5.28% growth in total income to Rs 204 crore in Q4 March 2015 over Q4 March 2014.
The result was announced after market hours on Friday, 22 May 2015.
Meanwhile, the S&P BSE Sensex was down 318.43 points or 1.14% at 27,639.07.
On BSE, so far 17,077 shares were traded in the counter, compared with an average volume of 37,840 shares in the past one quarter.
The stock hit a high of Rs 2,390.70 and low of Rs 2,331.85 so far during the day. The stock had scaled a record high of Rs 2,709 on 7 April 2015. The stock hit a 52-week low of Rs 725.90 on 30 May 2014.
The stock had outperformed the market over the past one month till 22 May 2015, gaining 10.55% compared with Sensex's 0.24% rise. The scrip had also outperformed the market in past one quarter, surging 65.43% as against Sensex's 4.36% fall.
The mid-cap pharma company has an equity capital of Rs 33.23 crore. Face value per share is Rs 10.
Natco Pharma's board of directors at its meeting held on Friday, 22 May 2015, approved increase of equity investment percentage in the company to 49% to foreign institutional investors (FIIs)/foreign portfolio investors etc. The Board also approved further issue of shares or convertible securities of any nature in the form of private placement, qualified institutional placement (QIP) to foreign institutional investors (FIIs), qualified institutional buyers or any other investors etc. up to an amount of Rs 450 crore. The Board has also approved the merger of Natco Organics (100% subsidiary company) into Natco Pharma.
Powered by Capital Market - Live News
