Glenmark Pharma slips on profit booking
Glenmark Pharmaceuticals fell 1.21% at Rs 300.95 at 10:02 IST on BSE on profit booking after the stock rose 7.66% in the preceding three sessions.
On BSE, 63,000 shares were traded in the counter as against an average daily volume of 1.50 lakh shares in the past one quarter.
The stock hit a high of Rs 307, which is also a 52-week high. It hit a low of Rs 299 so far during the day. The stock had hit a 52-week low of Rs 210 on 4 November 2009.
The stock rose 7.66% in the three trading sessions to Rs 304.65 on Tuesday, 28 September 2010, from a recent low of Rs 282.95 on 23 September 2010.
The stock underperformed the market over the past one month till 28 September 2010, gaining 5.12% compared with the Sensex's 11.70% jump. It underperformed the market in past one quarter, rising 10.20% as against 13.11% rise in the Sensex.
The large-cap pharmaceutical company has an equity capital of Rs 27 crore. Face value per share is Rs 1.
On a consolidated basis, Glenmark Pharmaceuticals' net profit jumped 191% to Rs 155.54 crore on 25.4% rise in net sales to Rs 681.86 crore in Q1 June 2010 over Q1 June 2009.
Oct 11, 2010