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CONCORD BIOTECH Gains 10%; BSE HEALTHCARE Index Up 0.5%
Thu, 29 Aug 9:32

CONCORD BIOTECH Gains 10%; BSE HEALTHCARE Index Up 0.5%Image source: hudiemm/www.istockphoto.com

CONCORD BIOTECH share price has zoomed 10% and is presently trading at Rs 1,779.6.

Meanwhile, the BSE HEALTHCARE index is at 42,959.7 (up 0.5%).

Among the top gainers in the BSE HEALTHCARE index today are ERIS LIFESCIENCES (up 2.6%) and Biocon (up 1.2%).

Procter & Gamble Health (down 1.2%) and ALEMBIC PHARMA (down 0.8%) are among the top losers today.

Over the last one year, CONCORD BIOTECH has moved up from Rs 997.2 to Rs 1,779.6, registering a gain of Rs 782.5 (up 78.5%).

On the other hand, the BSE HEALTHCARE index has moved up from 27,859.6 to 42,959.7, registering a gain of 54.2% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were GRANULES INDIA (up 136.1%), Glenmark Pharma (up 122.7%) and SUVEN PHARMACEUTICALS (up 107.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,858.3 (up 0.1%).

The top gainers among the BSE Sensex today are Sun Pharma (up 0.6%) and HDFC Bank (up 0.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,054.3 . Cipla and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,996.6 to 81,858.3, registering a gain of 16,861.7 points (up 25.9%).

CONCORD BIOTECH Financial Update...

CONCORD BIOTECH net profit grew 20.2% YoY to Rs 582 million for the quarter ended June 2024, compared to a profit of Rs 485 million a year ago. Net sales rose 10.8% to Rs 2,158 million during the period as against Rs 1,948 million in April-June 2023.

For the year ended March 2024, CONCORD BIOTECH reported 28.3% increase in net profit to Rs 3,081 million compared to net profit of Rs 2,401 million during FY23. Revenue of the company grew 19.2% to Rs 10,169 million during FY24.

The current Price to earnings ratio of CONCORD BIOTECH, based on rolling 12 month earnings, stands at 59.2.


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