Panacea Biotec rose 0.13% to Rs 315 at 9:57 IST on BSE after the company said it has received a patent rights from US Patent & Trademark Office for its product for effective management of hemorrhoids & piles.
The company made this announcement after trading hours yesterday, 9 July 2008.
Meanwhile, the BSE Sensex was up 10.04 points, or 0.07%, to 13,974.30.
On BSE, 25 shares were traded in the counter. The scrip had an average daily volume of 21,925 shares in the past one quarter.
The stock hit a high of Rs 315 and a low of Rs 315 so far during the day. The stock had a 52-week high of Rs 447 on 24 July 2007 and a 52-week low of Rs 273.05 on 3 July 2008.
The mid-cap company had underperformed the market over the past one month till 9 July 2008, declining 12.55% compared to the Sensex’s decline of 6.21%. It had also underperformed the market in the past one quarter, declining 13.81% compared to Sensex’s decline of 11.03%.
The company has an equity capital of Rs 6.68 crore. Face value per share is Rs 1.
The current price of Rs 315 discounts its Q4 March 2008 annualised EPS of Rs 14.92, by a PE multiple of 21.11.
The total potential of anti-hemorrhoids and piles market in US & EU is between $500-600 million.
On 4 July 2008, Panacea Biotec announced its foray into healthcare delivery by entering into a collaboration to set up a 220-bed multi speciality hospital in the National Capital Region, Gurgaon.
Panacea Biotec’s net profit rose 6.4% to Rs 24.91 crore on 13.8% fall in net sales to Rs 195.52 crore in Q4 March 2008 over Q4 March 2007.
The company is engaged in manufacturing and marketing branded vaccines, pharmaceutical and biotechnology-based products of international quality. The products are used in various segments like, pediatric vaccines, pain management, diabetes management and organ transplantation.