Divi’s Laboratories shares witnessed a loss on July 1st
New Delhi: To begin with, the shares of Divi’s Laboratories witnessed a loss in the trade today. The share price of the company dropped by 1.27% to Rs. 2,249.85 in the trade. Besides, the total traded volume on the counter turned over around Rs. 5.54 crores.
Initially, the stock reached a trade high of Rs. 2,290.00. As well as it reached a trade low of Rs. 2,237.20 per equity share as of yet. Earlier, the stock closed at Rs. 2,278.85 in the previous session. However, the stock traded at a price-to-earnings multiple of 43.41. Its price-to-book ratio stood at 8.17.
On the other side, the company posted its consolidated net sales of Rs. 1,389.71 crores as of March 2020. Down by 0.47% from the previous quarter, which stood at Rs. 1,396.26 crores.
Despite this, the net profit after tax for the present quarter stood at Rs. 388.23 crores, up to 32.97% from the same quarter a year ago.
Also, as of March 2020, the promoters of the company held 51.97% of its stake. Likewise, the FIIs held a 19.08% stake and DIIs held a 14.67% stake.
Stock Market Update:
Stock Market on July 1st: On Wednesday, both Sensex and Nifty seem to trade with a bullish trend in the stock market. The Sensex stood trading high with 35,124.42 levels. Thereby, the Nifty stood trading up to 10,364.75 levels. The Sensex gained 208.85 points with a 0.61% rise. So then, the Nifty has gained 53.65 points with a 0.53% rise.
On the other hand, the number of confirmed COVID-19 cases in India reached 5,85,493 as of July 1st, and deaths reached 17,400.
In the border market, the S&P BSE Midcap index lost 8.50 points with a 0.068% drop and reached a 13,048.02 level. The S&P BSE Smallcap index gained 38.05 points with a 0.29% rise and reached a 12,416.86 level. So then, the Nifty Bank also gained 296.55 points with a 1.39% rise and reached 21,671.35 level.