Paring initial gains, shares of Shasun Pharmaceuticals shed 5 per cent on profit-booking today, despite the company reporting a growth in consolidated net profit for the fourth quarter ended March 31, 2012.
Even after a robust opening and touching a 52-week high, the scrip failed to hold the gains and lost 5 per cent to Rs 124.65 on the BSE from yesterday’s closing level.
The stock opened at a premium of about 3 per cent and soon touched a one-year high of Rs 136.80. Similarly, on the NSE, the scrip fell 5 per cent to Rs 124.65.
The scrip had rallied in the last five trading sessions.
Shasun Pharmaceuticals had yesterday reported a 53.57 per cent rise in consolidated net profit at Rs 58.99 crore for the fourth quarter ended March 31, 2012.
The company had posted a net profit of Rs 38.41 crore during the same period of previous fiscal, 2010—11.
Meanwhile, the Sensex was trading 81.71 points lower at 16,140.59.
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Published on May 25, 2012
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