Marksans Pharma gains on stock split proposal

Marksans Pharma gained 2.55% Rs 342.10 at 14:14 IST on BSE, after the company said its board will consider stock split at a meeting to be held on 25 January 2008.

The company made this announcement during trading hours today, 8 January 2008.

Meanwhile, BSE Sensex was down 48.84 points or 0.23% to 20,763.81.

On BSE, 3.37 lakh shares were traded in the counter. The stock had an average daily volume of 2.49 lakh shares in the past one quarter.

The stock hit a high of Rs 348.80 and a low of Rs 317.20 so far during the day. The stock hit a 52-week high of Rs 351.60 on 4 January 2008 and a 52-week low of Rs 44.20 on 14 June 2007.

The mid-cap scrip had outperformed the market over the past one month till 7 January 2008, gaining 94.52% as compared to the Sensex's return of 4.24%. It had also outperformed the market in the past one quarter, rising 184.28% as compared to the Sensex's rise of 13.85%.

The company's current equity is Rs 35.94. Face value per share is Rs 10.

The current price of Rs 342.10 discounts Q2 September 2007 annualized EPS of Rs 3.88 by a PE multiple of 88.17.

On 1 January 2008, the company signed an agreement with UK's Hale Group to buy it out along with its subsidiary.

Marksans Pharma's net profit declined 40.2% to Rs 3.49 crore on 23.8% fall in net sales to Rs 54.41 crore in Q2 September 2007 over Q2 September 2006.

The company is engaged manufacturing and selling pharmaceuticals