Divi's Laboratories Limited is in the process of entering into a long-term supply agreement with a customer and is planning for capacity addition at its manufacturing facility with an estimated investment between Rs. 650 crores to Rs. 700 crores, to be funded from internal accruals.
With the curtains coming down on India Inc’s Q2FY23 earnings season, analysts were busy in November making rating revisions and upgrading their outlook for stocks that managed to beat the consensus. Britannia saw the maximum upgrades after a solid earnings beat while Divi’s Labs was shunned by analysts after its Q2 net profit slumped 18 percent year-on-year.
Shares of Divi’s Laboratories were in focus on Monday as brokerages expressed concerns over the sustainability of the company’s growth in 2021-22 so far.
Shares of drug firm Divi's Labs fell more than 8% as analysts forecast rising near-term pressures amid logistical issues, higher raw material prices, and declining generics business.
BENGALURU : Shares of India's Divi's Laboratories Ltd, which makes the main ingredient of Merck & Co's experimental antiviral pill, soared 10per cent on Monday, after the pharmaceutical giant reported positive clinical trial results for the drug.
The stock of India’s second largest pharma company by market capitalisation, Divi’s Laboratories was down a tad on Monday despite better than expected operating performance. The flattish stock performance was on account of expensive valuations and worries of whether margins are peaking out.
Divi's Laboratories has posted a total income of Rs. 1,997 crore for the first quarter ended June 30, 2021 on a consolidated basis, as against an income of Rs. 1,748 crore for the corresponding quarter of last year.
Shares of pharmaceutical companies were in demand in Friday's session, with stocks of Alkem Laboratories, Divi's Laboratories and Syngene International rallying up to 14 per cent to hit record highs on BSE amid expectation of strong earnings for the quarter ended June 2021 (Q1FY22), helped by low base last year and strong demand led by the pandemic.
It seems stock markets have got a new lease of life after two favourable developments - Joe Biden's win in US Presidential elections and drug company Pfizer's announcement that its experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results. The benchmark indices logged fresh high levels for the second consecutive session on Tuesday.
Divi’s Laboratories, a Rs. 5,400 crore producer of high quality generic API, has posted strong performance during the first quarter ended June 2020 and the company’s scrip touched an all-time high of Rs. 3,378.65 on August 28, 2020 with market capitalisation of Rs. 83,621 crore.