Divi's Labs bounces back sharply from 52-week low ahead of results

Divi's Laboratories surged 7.25% to Rs 985 at 13:32 IST on BSE, on bargain hunting following a three-day 26% slide.

The stock lost 8.54% to a 52-week low of Rs 840 in intra-day trade. Divi's Laboratories will declare its Q3 results on 24 January 2009.
Meanwhile, the BSE Sensex was up 41.95 points, or 0.48%, to 8,821.12.
On BSE, 5.41 lakh shares were traded in the counter. The stock had an average daily volume of 26,634 shares in the past one quarter.

The stock hit a high of Rs 999 so far during the day. The stock hits a low of Rs 840 so far during day, which is 52-week low for the counter. The stock hit a 52-week high of Rs 1634.95 on 18 June 2008.

Divi's Laboratories rebounded in volatile trade today, after sliding a little over 26% to Rs 840 in intraday trade today, 22 January 2009 from a recent high of Rs 1135.35 on 16 January 2009.

The company's current equity is Rs 12.95 crore. Face value per share is Rs 2.
The current price of Rs 985 discounts the company's Q2 September 2008 annualized EPS of Rs 85.12, by a PE multiple of 11.57.

The company's net profit surged 50.9% to Rs 137.68 crore on 36.6% increase in net sales to 331.22 Q2 September 2008 over Q2 September 2007.
Divi's Labs is engaged in research and development of pharmaceuticals. The company is the largest manufacturer of some peptide reagents and protected amino acids worldwide.