Pharma stocks slip; Lupin top loser after posting Q4 earnings
The pharma stocks have been trading with weakness on the Wednesday’s trading session. Lupin is the top loser in the Nifty pharma index trading lower by around 4% at Rs 1203 per share as of 1452 hours on Wednesday. The Nifty Pharma index is trading lower by 2.3% at 9422 levels.
The Pharma major, Lupin has come out with its Q4 FY17 earnings. The profit after tax stood at Rs 380 Cr. The revenue at Rs 4,612 Cr. EBITDA Margin at 18.4%. Tax Expense at Rs 136.7 Cr.
The other pharma stocks like Divi’s Lab, Glenmark, Cipla, Aurobindo Pharma, PEL, Dr Reddy’s and Sun Pharma were also trading in negative territory. The stocks Glaxosmith, Dr Reddy, Aurobindo Pharma, Glenmark and Divi’s Lab are trading close to their 52-week low.
The major indices in the market, Nifty and Sensex are trading lower by 31 and 65 points respectively as of 1452 hours on Wednesday.
Lupin Ltd is currently trading at Rs 1227.3, down by Rs 21.7 or 1.74% from its previous closing of Rs 1249 on the BSE.
The scrip opened at Rs 1250 and has touched a high and low of Rs 1275.75 and Rs 1168.1 respectively. So far 4024692(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 56413.72 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1750 on 29-Jul-2016 and a 52 week low of Rs 1231.5 on 23-May-2017. Last one week high and low of the scrip stood at Rs 1326.5 and Rs 1231.5 respectively.
The promoters holding in the company stood at 46.69 % while Institutions and Non-Institutions held 41.24 % and 12.06 % respectively.
The stock is currently trading below its 200 DMA.