Shares of pharma firm Sanofi India on Wednesday gained as a lot as 9 per cent and hit its 52-week excessive of Rs 7,250 on BSE after the corporate posted sturdy December quarter consequence. Merchants mentioned the spike within the inventory was largely on the again of strong December quarter outcomes and after the corporate introduced a complete dividend of Rs 349 per share.The shares of the corporate opened on a bullish observe at Rs 7,525.00, then gained floor and touched its 52-week excessive of Rs 7,637.55, on the BSE, even because the broader market was buying and selling within the detrimental territory.
The inventory witnessed related motion on the NSE as effectively, the place it opened at Rs 7,549.95, and rose additional to 52-week excessive of Rs 7,640, registering an increase of 8.80 per cent.
The corporate on Tuesday posted a 22.96 per cent leap in revenue to Rs 97.three crore in December quarter. It had posted a revenue of Rs 79.three crore within the year-ago interval.
The corporate follows January-December monetary 12 months.
Sanofi India has additionally advisable a closing dividend of Rs 106 per fairness share and one-time particular dividend of Rs 243 per fairness share for the 12 months ended on December 31, 2019.
The entire dividend advisable is Rs 349 per fairness share.
On the amount entrance greater than 88,000 shares exchanged palms on the NSE and over 8,500 on the BSE had been traded until 1214 hours.
The spurt in quantity was greater than 5.89 instances on the BSE whereas the buying and selling session was open.
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