Nectar Lifescience gained 2.67% to Rs 359.80 at 11:14 IST on BSE after the company said its board has approved for a 10-for-1 stock split.
The company made this announcement after trading hours on Thursday, 28 August 2008.
The stock hit a high of Rs 362.80 and a low of Rs 355.10 so far during the day. The stock had hit a 52-week high of Rs 388 on 25 August 2008 and a 52-week low of Rs 168.50 on 24 March 2008.
The company has an equity capital of Rs 15.23 crore. Face value per share is Rs 10.
The current price of Rs 359.80 discounts its Q1 June 2008 annualised EPS of Rs 63.30, by a PE multiple of 5.68.
The board also approved raising $2.5 million through the issue of convertible warrants on preferential basis to two foreign funds.
Nectar Lifescience’s net profit rose 40.9% to Rs 24.10 crore on 16.9% increase in net sales to Rs 185.44 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing bulk drugs. The products include cefotaxime acid, cefuroxime acid, mica acid, sodium bi carbonate, tetra hydro furon, atorvastatin, cefalothin, cefdinir, cefprozil and clythromycin. The plants are located at Punjab, Himachal Pradesh and Jammu & Kashmir.
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