Pharma player Novartis India stock dipped over 4% on BSE in Wednesday’s trade as the company posted its financials on 23 May 2017.
The company’s net profit slumped 87.3% to Rs 2.91 crore on 12.4% decrease in net sales to Rs 145.48 crore in Q4 March 2017 over Q4 March 2016.
The stock opened its Wednesday’s trade at Rs 639.95 per share, touched a high of Rs 649.00 per share and a 52 week low of Rs 621.95 per share on BSE.
Meanwhile, BSE Midcap index is trading weak over 137 points or nearly 1% at 14103.09 level with BSE Smallcap index dipped over 97 points in the pre-lunch session.
Novartis India Limited manufactures drugs, medicines and allied products. The Company is engaged in the wholesale of pharmaceuticals and medical goods. The Company focuses on over three divisions, including pharmaceuticals, eye care and generic medicines.
Stock view:
Novartis India Ltd is currently trading at Rs 620.45, down by Rs 35.45 or 5.4% from its previous closing of Rs 655.9 on the BSE.
The scrip opened at Rs 639.95 and has touched a high and low of Rs 649 and Rs 617.95 respectively. So far 35587(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2096.26 crore.
The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 855 on 25-May-2016 and a 52 week low of Rs 629.95 on 16-Nov-2016. Last one week high and low of the scrip stood at Rs 678.8 and Rs 652.95 respectively.
The promoters holding in the company stood at 73.4 % while Institutions and Non-Institutions held 1.35 % and 25.25 % respectively.
The stock is currently trading below its 50 DMA.
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