Hester Biosciences gains 11 per cent post acquiring technology for production of 2 vaccines
Hester Biosciences Limited today announced that it has acquired technology from Indian Council of Agricultural Research-Indian Veterinary Research Institute (ICAR-IVRI) for the production and commercialisation of swine fever vaccine & sheep pox vaccine.
These vaccines are the first that have been developed within the country by using locally isolated strains. The vaccines have been extensively tested by IVRI for safety & potency and have been found to provide 100 per cent protection.
Reacting to this, the company’s stock today increased by 11.77 per cent and made an intraday high of Rs 2,250 per share at 2.11 pm.
Besides, the company reported a net profit of Rs 12.87 crore in Q3FY21. It had reported a profit of Rs 11.95 crore in Q3FY20, an increase of 7.71 per cent. The company reported net sales of Rs 56.89 crore for Q3FY21, an increase of 12.23 per cent as against the net sales of Rs 50.69 crore for Q3FY20.
According to BSE data, the stock traded at a P/E multiple of 47.51 and a price-to-book ratio of 7.95. The stock has a 52-week high and a 52-week low of Rs 2,277.80 and Rs 980, respectively.
At the time of market closing, the company’s stock was trading at Rs 2,216.75, up by 10.12 per cent on BSE.