Panacea Biotec hits the roof on large order
Panacea Biotec was locked at 5% upper limit at Rs 174 at 13:11 IST on BSE, having recovered from the session's low of Rs 160.10, after the company bagged an order worth $222.37 million for supply of a vaccine.
At the day's low of Rs 160.10, the stock slumped 3.41% before the company made this announcement during trading hours.
Meanwhile, the BSE Sensex was down 318.95 points, or 2.12%, to 14,716.31.
On BSE, 33,229 shares were traded in the counter. The stock had an average daily volume of 19,439 shares in the past one quarter.
The stock hit a high of Rs 174 and a low of Rs 160.10 so far during the day. The stock hit a 52-high of Rs 316 on 25 August 2008 and a 52-week low of Rs 51 on 2 February 2009.
The mid-cap stock had outperformed the market over the past one month till 17 August 2009, gaining 25.75% as compared to the Sensex's 0.27% rise. It had also outperformed the market in the past one quarter, surging 77.93% as compared to the Sensex's return of 21.45%.
The company's current equity is Rs 6.68 crore. Face value per share is Rs 1.
The current price of Rs 174 discounts the company's Q1 June 2009 annualized EPS of Rs 7.80, by a PE multiple of 22.31.
The company has secured a contract worth $222.37 million (Rs 1067 crore) from United Nations Children's Fund (UNICEF) for supplying EasyFive (pentavalent vaccine) for three years (from 2010 to 2012).
EasyFive is world's first fully liquid pentavalent vaccine introduced in India by Panacea Biotec in January 2009. The drug immunizes children against five dreadful diseases in early childhood.
The company had received the pre-qualification for EasyFive from the World Health Organization (WHO) in July last year.
Panacea Biotec's net profit fell 61.7% to Rs 13.03 crore on 21.1% fall in net sales to Rs 177.21 crore in Q1 June 2009 over Q1 June 2008.
Panacea Biotec operates a pharmaceutical company in India, which manufactures a variety of drugs that are distributed internationally. The company's key products include a Hepatitis B vaccine and drugs for diabetes management.
source : capital market
Wednesday, August 19, 2009
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