Sharon Bio-Medicine drops ex-dividend

Meanwhile, the BSE Sensex was down 303.04 points, or 1.8% to 16,574.02.

On BSE, 14,000 shares were traded in the counter as against average daily volume of 35,913 shares in past one quarter.

The stock hit a high of Rs 299 and a low of Rs 295 so far during the day. The stock had hit a record high of Rs 335 on 4 November 2011. The stock had hit a 52-week low of Rs 130 on 9 February 2011.

The small-cap stock had underperformed the market over the past one month till 7 December 2011, declining 8.62% compared with the Sensex's 3.9% fall. The scrip had, however, outperformed the market in past one quarter, rising 2.99% as against 1.1% decline in the Sensex.

 

The company has an equity capital of Rs 10.56 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 0.6% based on the closing price of Rs 298 on Wednesday, 7 December 2011.

Sharon Bio-Medicine's net profit rose 49.3% to Rs 9.69 crore on 26.9% growth in net sales to Rs 174.36 crore in Q1 September 2011 over Q1 September 2010.

A pharmaceuticals firm, Sharon Bio-Medicine is involved in manufacture of intermediates, active pharmaceutical ingredients and finished dosage forms. Sharon's long term focus is to be an integrated service provider for its customers and adding competitive advantage to its customer's products throughout its life cycle.

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