Buzzing stock: Natco Pharma makes new 52-week high
Natco Pharma is an Indian pharmaceutical company based in Hyderabad, which makes finished dosage formulations and active pharmaceutical ingredients.
During Friday’s trading session, even as Sensex and Nifty closed negative, the stock of Natco Pharma was at 52-week high.
The stock is rising because of settlement of Dr Reddy’s Labs with Celgene over its patent on Revlimid, which cleared the path for Natco Pharma to launch the first generic version of the drug which is used to treat a type of cancer called multiple myeloma.
The stock jumped more than 19.99 per cent and made 52-week high of Rs 931.70 on BSE. Stock saw the biggest intraday rise in 19 years. On a YTD basis, the stock has gained by 50.11 per cent. According to BSE data, the stock traded at a P/E multiple of 36.83 and a price-to-book ratio of 4.19.
On the BSE, 3.54 lakh shares were traded so far as against the average daily volumes of 17395 shares in the past one month.