Natco Pharma jumps on bargain hunting

Natco Pharma rose 3.06% to Rs 717.95 at 10:06 IST on BSE on bargain hunting after a recent slide.

Meanwhile, the S&P BSE Sensex was down 296.01 points, or 0.94% to 31,235.32.

On the BSE, 88,000 shares were traded in the counter so far, compared with average daily volumes of 67,765 shares in the past one quarter. The stock had hit a high of Rs 737.95 and a low of Rs 675 so far during the day. The stock hit a record high of Rs 1,080 on 9 June 2017. The stock hit a 52-week low of Rs 495 on 9 November 2016.

 

The stock had underperformed the market over the past one month till 10 August 2017, falling 29.95% compared with 0.86% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.17% as against Sensex's 4.45% rise. The scrip had also underperformed the market in past one year, rising 9.27% as against Sensex's 13.18% rise.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Shares of Natco Pharma fell 27.49% in three trading sessions to settle at Rs 696.65 yesterday, 10 August 2017, from its close of Rs 960.80 on 7 August 2017.

On a consolidated basis, net profit of Natco Pharma rose 97.06% to Rs 94 crore on 31.64% rise in net sales to Rs 428.10 crore in Q1 June 2017 over Q1 June 2016. The result was announced on 7 August 2017.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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