Vivimed Labs spurted to Rs 110.50 this morning after the company reported a whopping 124.63% jump in consolidated net profit to Rs 51.71 crore in the quarter ended December 2016, compared to year-ago quarter. Net sales were up 9.13% in the quarter.
The stock pared some gains subsequently, but still remains strong at Rs 102, up 5% from its previous closing price.
After rising to a 52-week high of Rs 121.15 (Rs 121.20 on NSE) in early October 2016, rallying from a low of Rs 68 it had touched in early August that year, the stock declined to around Rs 83 by the third week of November 2016.
On BSE, the Vivimed Labs counter has clocked a volume of over 9 lakh shares so far in the session, more than six times the daily average volume of about 1.49 lakh shares. On the National Stock Exchange, nearly 4 million shares have changed hands so far today at the Vivimed Labs counter.