Weak Profits For The First Quarter Panacea Biotec Pull Down

The result was released after market hours on Wednesday, July 27, 2011.

Meanwhile, the BSE Sensex down 211.27 points, or 1.15%, to 18,220.98.

On BSE, 11,907 shares changed hands at the front desk at a daily average of 9542 shares in the last quarter NRI Online Trading account .

The action peaked at 167 rupees and a minimum of Rs 159.20 so far during the day. The action peaked at 227.40 rupees 52 weeks of October 20, 2010 and 52-week low of Rs 152 December 10, 2010.

The stock has outperformed the market over the past one month, until July 27, 2011 to 3.88% compared to Sensex’s 0.11% increase. However, the Scriptures have underperformed the market last quarter, sliding 11.37% as against 5.23% in Sensex fall

The drugmaker mid-cap with a capital of Rs 06.12 crore. The nominal value per share is Re 1.

Panacea Biotec Q1 June 2011 invested Rs 8 crore to acquire 2.66 lakh optionally convertible preference shares in its wholly owned subsidiary (WOS), the company, in excellent health.

During the quarter, the company also invested Rs 70.5 lakh for payment of call money as part of the parties paid in its Indian unit, NewRise Healthcare.

WoS American company, Panaces Biotec Inc., was dissolved on 5 April 2011 and the amount available of $ 24,087.52 was transferred back to India in Q1 June 2011.

Meanwhile, the company has provided loans of Rs 1.55 crore to its WOS abroad, Rees Investments PAN Card for NRI.


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