Fire costs Syngene share price 6% decline today

A massive fire broke out at Syngene facility near Bengaluru last evening.  But it was a matter of relief that no casualties were reported as the incident took place after office hours. But, company's MD, Kiran Mazumdar Shaw said that the damage in terms of value will run into several crores.

The fire had cost Syngene share price 6.58 per cent as the stock declined and traded in red after the incident was reported.

Shaw said the fire broke out in the upper floors of the company's building and it was provoked by the cyclonic winds, making the fire worse. Bengaluru is one of cyclone-affected areas. There was a holdup in stabilizing the situation and the fire went out of control resulting in stripped out labs. Company's focus now is on business continuity and it anticipates minimal business disturbance. Syngene has a lot of cushion lab capacity which it will immediately move into. Shaw said that they want minimal business disruption, said Shaw and that there will be no impact on profit and loss (P&L) as the losses have been insured. 

At 11:11 AM, Syngene share price was quoting at Rs. 597.75, low by 5.75 per cent. So far, approximately three lakh shares were traded at the NSE trading counter as compared to its twenty day average of approximately two lakh. The stock had opened at Rs. 612 as against its previous close of Rs. 634.35. Thus far, it had traded at the intraday high of Rs. 624.90 and the low of Rs. 592.50. The face value Rs. 10 shares have the book value of Rs. 52.68. As on 13^th December 2016, Syngene’s market cap stood at Rs. 12685 crores.

Syngene is the Multibagger Stocks recommendation by Dynamic Levels for the month. For the details on Syngene, kindly drop by at Syngene share price history page of Dynamic Levels website.

Syngene Share Price dips 5.5% on Block Deal Today

Syngene share price has dipped 5.6 per cent to Rs 571 on the NSE after a more than 1 per cent stake of the pharmaceutical company changed hands via block deal.

The BSE data shows that at 09:15 am; approximately 3.07 million shares representing 1.53 per cent of total equity of Syngene International have changed hands on the counter. The name of the buyers and sellers were not ascertained immediately.

At 1:11 PM, Syngene share price was trading at Rs. 575.30, down by 4.86 per cent as compared to the 1 per cent decline in the benchmark Index Nifty. So far around four lakh shares have changed hands on the copunter as compared to its twenty day average of one lakh twenty thousand shares.

As of September 30, 2016, Silver Leaf Oak (Mauritius) held 9.63% stake, while Canara HSBC Oriental Bank of Commerce Life Insurance Company held 1% stake in Syngene International, the shareholding pattern data shows. Also, Mutual Funds have declined its holding from 1.25 per cent in the June quarter to 0.97 per cent in the September quarter this year. However, Foreign Portfolio Investors, i.e. FPI have increased their stakes from 4.52 in the June quarter to 6.02 in the September quarter of this financial year.

On Thursday, December 1, 2016, Syngene share price hit a new lifetime high of Rs 616 on the NSE in intra-day trade. In past three months, it had outperformed the market by surging 21 per cent as compared to 8 per cent decline in the benchmark Index Nifty.

As on 2^nd December 2016, Syngene has the market cap of rs.12094 crores. The stock has the book value of Rs. 52.68 and yields a monthly return of 4.24 per cent. Syngene is the Mutibagger stock recommended by Dynamic Levels. For the details on the stock, visit Syngene share price historypage of Dynamic Levels website.

Syngene Q2 Net up 54 per cent at Rs 75 crore

Biocon's contract research arm Syngene International clocked 54.02 per cent increase in its net profit at Rs 74.7 crore for the second quarter ended September 30, backed by discovery and R&D centre business verticals. The company, which had noted a net profit of Rs 48.5 crore during the corresponding period of the previous financial year, also declared acquisition of bio-informatics services of Strand Life Sciences along with a team of data scientists.

Net sales of the company increased to Rs 294.7 crore for the 2^nd quarter, against Rs 256.1 crore during the corresponding period of previous financial year, as per Syngene International’s regulatory filing. According to Jonathan Hunt, Syngene International CEO, it has been a good quarter for Syngene with top and bottom lines recording strong growth.

The company signed a strategic collaboration with Amgen Inc in order to set up a dedicated centre that will have Syngene scientists working together with Amgen's global scientific teams on small and large molecule research, he added. The company also attained the bio informatics assets of Strand Life Sciences along with a team of data scientists which boosts the company's data analytics capabilities and opens new avenues for supplying value added services to clients, Hunt further said. Syngene, nonetheless, did not share financial details.

As on 20^th Oct, Syngene share price traded above 7 per cent at Rs. 542.10. The stock settled at Rs. 542.90. The stock touched the day’s high and low at Rs. 563.95 and Rs. 511.95 respectively.

Syngene is analyzed by Dynamic Levels as the top 500 performing stocks for the June quarter among the 1700 stocks which are listed on the NSE. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Syngene share price history.