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IPCA Labs Plunges 6%; BSE HEALTHCARE Index Down 0.7%
Wed, 23 Oct 9:20

IPCA Labs Plunges 6%; BSE HEALTHCARE Index Down 0.7%Image source: Ivcandy/www.istockphoto.com

IPCA Labs share price has plunged 6% and is presently trading at Rs 1,493.0.

Meanwhile, the BSE HEALTHCARE index is at 42,783.0 (down 0.7%).

Among the top losers in the BSE HEALTHCARE index today are ERIS LIFESCIENCES (down 2.9%) and MAX HEALTHCARE INSTITUTE (down 2.5%).

ASTRAZENECA PHARMA (up 3.6%) and GSK Pharma (up 1.9%) are among the top gainers today.

Over the last one year, IPCA Labs has moved up from Rs 997.8 to Rs 1,493.0, registering a gain of Rs 495.3 (up 49.6%).

On the other hand, the BSE HEALTHCARE index has moved up from 27,503.7 to 42,783.0, registering a gain of 55.6% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were Jubilant Pharmova (up 214.3%), Glenmark Pharma (up 120.3%) and SUVEN PHARMACEUTICALS (up 117.9%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 79,921.1 (down 0.4%).

The top losers among the BSE Sensex today are JSW Steel (down 1.4%) and Power Grid Corp. (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,512.0 (up 0.2%). Bajaj Finance and Bajaj Finserv are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,921.1, registering a gain of 15,349.3 points (up 23.8%).

IPCA Labs Financial Update...

IPCA Labs net profit grew 19.7% YoY to Rs 1,990 million for the quarter ended June 2024, compared to a profit of Rs 1,662 million a year ago. Net sales rose 32.0% to Rs 20,926 million during the period as against Rs 15,852 million in April-June 2023.

For the year ended March 2024, IPCA Labs reported 7.6% increase in net profit to Rs 5,292 million compared to net profit of Rs 4,919 million during FY23. Revenue of the company grew 23.6% to Rs 76,198 million during FY24.

The current Price to earnings ratio of IPCA Labs, based on rolling 12 month earnings, stands at 67.4.


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