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Surya Pharmaceutical rose 1.35% at Rs 274.65 at 11:51 IST on BSE after the company’s board decided to raise US$25 million by issuing global depositary receipt.<\/p>\nSurya Pharmaceutical rose 1.35% at Rs 274.65 at 11:51 IST on BSE after the company’s board decided to raise US$25 million by issuing global depositary receipt.<\/p>\n
The announcement was made before trading hours today, 8 October 2010.<\/p>\n
Meanwhile, the BSE Sensex was down 54.45 points, or 0.27%, to 20,260.87.<\/p>\n
On BSE, 79,466 shares were traded in the counter as against an average daily volume of 2.09 lakh shares in the past one quarter.<\/p>\n
The stock hit a high of Rs 281.20 and a low of Rs 267.30 so far during the day. The stock had hit a record high of Rs 314.85 on 25 August 2010 and a 52-week low of Rs 100.10 on 30 October 2009.<\/p>\n
The stock had underperformed the market over the past one month till 7 October 2010, falling 7.67% compared with the Sensex’s 8.96% jump. It outperformed the market in past one quarter, gaining 47.89% as against 16.28% rise in the Sensex.<\/p>\n
The small-cap pharmaceutical company has an equity capital of Rs 14.47 crore. Face value per share is Rs 10.<\/p>\n
Surya Pharmaceutical said the Global Depositary Receipts (GDR) has opend for subscription. The subscription list is expected to remain open till 12 October 2010, when the company’s board will meet to decide on the date of closure of the subscription list.<\/p>\n
Surya Pharmaceutical’s net profit jumped 74.6% to Rs 23.35 crore on 72% increase in net sales to Rs 357.76 crore in Q1 June 2010 over Q1 June 2009.<\/p>\n