Shilpa Medicare Share Price Surged 4%

On 12th December 2016, Shilpa Medicare share price went up by more than 4 per cent from its previous close. The stock opened at Rs. 643 and touched the day’s high and low at Rs. 669.00 and Rs. 632.00 respectively.

On December 1, the company at its meeting has approved the raising of funds up to Rs 175 crore by issuing equity shares on preferential basis to TA FII Investors, Mauritius at a price of Rs 570 per share. The board has also suggested to increase the investment limit for FIIs'/FPIs and registered foreign investors to 40 per cent from the current limit of 30 per cent which is subject to approval by shareholders. The company's extra ordinary general meeting (EGM) is going to be held on December 26, 2016.

Shilpa Medicare, the Healthcare Company declared its consolidated profit during July-September quarter, which increased 64 per cent y-o-y to Rs 38.2 crore. The bottomline growth was led by revenue as well as operational performance. Total income from operations in Q2 increased to Rs 194.11 crore as compared with Rs 163.42 crore in the same quarter of last financial year. EBITDA (earnings before interest, tax, depreciation and amortisation) by 25.7 per cent y-o-y to Rs 49.9 crore and margin expanded by 90 basis points to 23.2 per cent in the quarter ended September 2016.

Shilpa Medicare Ltd.was incorporated in the year 1987. It is a Mid Cap company which has a market cap of Rs 4936.45 Cr. and operates in Pharmaceuticals and health care sector.

Shilpa Medicare is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research, it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run.For further details, refer to Shilpa Mediacare share price history.