Eris Lifesciences shares scale 52-week high
The drug maker reported a net profit of Rs 110.7 crore as against Rs 95.6 crore for the corresponding period a year ago.
Pharmaceutical company Eris Lifesciences' shares jumped to touch a 52-week high on Friday amid high volume. The Ahmedabad-based drug maker's stock surged by as much as Rs 75, or 8.8 per cent, to Rs 925 apiece on BSE.
The sharp gains in the stock were on the back of a spurt of more than 17 times in volume. At noon, the stock held on firmly to the green, with a gain of 6.4 per cent at Rs 904.7 apiece on the bourse.
Here are a few important details about Eris Lifesciences:
How Eris Lifesciences fared in Q1
For the first quarter of the current financial year, the drug maker reported a net profit of Rs 110.7 crore as against Rs 95.6 crore for the corresponding period a year ago. Its total income grew to Rs 415.3 crore for the April-June period from Rs 332 crore a year ago.
Promoter/FII holding
Foreign institutional investors trimmed their stake in the company to 13.78 per cent at the end of the June quarter from the 14.86 per cent they held at the end of the previous three months. Also during the quarter, promoters initiated pledges of 11.37 percent shares in the company.
Market value
The midcap pharma company commands a market capitalisation of Rs 12,320 crore. It has low levels of debt and has seen improvement in its book value per share for the last two years, according to stock analysis portal Trendlyne.
Eris Lifesciences shares: Past performance
The Eris Lifesciences stock has rewarded investors with a return of 29 per cent in the past year, a period in which the Nifty has grown almost 17 per cent.
Can you expect Eris Lifesciences shares to rise further?
According to Trendlyne, the average brokerage target for the stock is Rs 873, which implies an upside of about 2.7 per cent from its previous close.
What does Eris Lifesciences do?
Eris Lifesciences is into the manufacturing, marketing and selling of generics within the chronic and acute categories of the pharmaceutical market.
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