Divis Laboratories Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Mid Cap

Divis Laboratories will hold a meeting of the Board of Directors of the Company on 3 August 2024.

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Divi's Laboratories announced that the US Food and Drug Administration (US-FDA) conducted a general cGMP inspection of the Company's Unit-II manufacturing facility at Chippada Village, Bheemunipatnam Mandal, Visakhapatnam, Andhra Pradesh from 11 July 2024 to 19 July 2024.

The US-FDA inspection is successfully completed with one procedural observation, which will be addressed in the stipulated period of time.

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Divis Laboratories Ltd gained for a third straight session today. The stock is quoting at Rs 4498.3, up 4.03% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.67% on the day, quoting at 22249. The Sensex is at 73373.23, up 1.8%. Divis Laboratories Ltd has risen around 13.51% in last one month.

Meanwhile, Nifty Pharma index of which Divis Laboratories Ltd is a constituent, has risen around 0.09% in last one month and is currently quoting at 18603.15, up 3.32% on the day. The volume in the stock stood at 8.5 lakh shares today, compared to the daily average of 6.67 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 4520.65, up 4.32% on the day. Divis Laboratories Ltd is up 27.15% in last one year as compared to a 19.62% spurt in NIFTY and a 47.7% spurt in the Nifty Pharma index.

The PE of the stock is 72.65 based on TTM earnings ending March 24.

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The key equity indices continued to trade with modest gains in afternoon trade. The Nifty traded above the 23,050 mark after hitting the day's low of 22,932 in morning trade. Banking, IT and realty stocks advanced while media and oil & gas shares declined.

At 13:28 IST, the barometer index, the S&P BSE Sensex added 512.93 points or 0.68% to 75,923.32. The Nifty 50 index gained 128.95 points or 0.56% to 23,086.05.

The Sensex and Nifty clocked an all-time high of 76,009.68 and 23,110.80 respectively in early afternoon trade.

In the broader market, the S&P BSE Mid-Cap index added 0.97% and the S&P BSE Small-Cap index rose 0.16%.

The market breadth was negative. On the BSE, 1,759 shares rose and 2,115 shares fell. A total of 157 shares were unchanged.

Economy:

India’s forex reserves jumped $4.549 billion to a new all-time high of $648.7 billion for the week ended May 17, the Reserve Bank said on Friday.

Gold reserves increased $1.244 billion to $57.195 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up $113 million to $18.168 billion, the apex bank said.

India’s reserve position with the IMF was down $168 million to $4.327 billion in the reporting week, the apex bank data showed.

Gainers & Losers:

Divi's Laboratories (up 4.10%), IndusInd Bank (up 2.05%), Bajaj Finance (up 1.58%), Tech Mahindra (up 1.53%) and Adani Ports and Special Economic Zone (up 1.47%) were major Nifty gainers.

Wipro (down 1.98%), Grasim Industries (down 1.87%), Oil and Natural Gas Corporation (ONGC) (down 1.78%), Adani Enterprises (down 1.56%) and Eicher Motors (down 1.37%) were major Nifty losers.

Divi's Laboratories advanced 4.10% after the company's consolidated net profit jumped 67.6% to Rs 538 crore on 18.04% rise in revenue from operations to Rs 2,303 crore in Q4 FY24 over Q4 FY23.

Stocks in Spotlight:

Cochin shipyard added 2.74% after the company reported consolidated net profit of Rs 258.88 crore in Q4 FY24, steeply higher than Rs 39.34 crore recorded in Q4 FY23. Revenue from operations zoomed 114.31% to Rs 1,286.05 crore in the March quarter as against Rs 600.09 crore reported in the same period a year ago.

Kolte-Patil Developers dropped 5.49% after the company reported consolidated net loss of Rs 26.18 crore in Q4 FY24 as against net profit of Rs 121.33 crore in Q4 FY23. Revenue from operations declined 33.94% to Rs 526.38 in Q4 FY24 over Q4 FY23.

Glenmark Pharmaceuticals rallied 7.47%. The company reported net loss of Rs 1,238.64 crore in Q4 FY24 as compared with net loss of Rs 549.49 crore in Q4 FY23. Revenue from operations increased 1.94% to Rs 3,016.00 crore in Q4 FY24 as compared with Rs 2,958.36 crore in Q4 FY23.

Affle India jumped 4.83% after the company's consolidated net profit jumped 40.21% to Rs 87.49 crore on 42.27% increase in net sales to Rs 506.22 crore in Q4 FY24 over Q4 FY23.

Paras Defence and Space Technologies rallied 5.94% after the company’s consolidated net profit jumped 63.82%to Rs 96 crore in Q4 FY24 as compared with Rs 58.6 crore in Q3 FY24. Revenue from operations increased by 24.17% QoQ to Rs 79.69 crore in Q4 FY24.

Global Markets:

Most of the European and Asian stocks advanced as an easing in US consumer inflation expectations bolstered the case for the Federal Reserve to cut rates this year.

US stocks rebounded on Friday, buoyed by news of an improving consumer outlook on inflation. The Nasdaq rose for a fifth straight week, closing at a record high. The Dow Jones Industrial Average edged up slightly, while the S&P 500 gained modestly.

University of Michigan data showed that consumers expect prices to climb at a 3.3% annual rate over the next year, down from the 3.5% expected earlier in the month. This suggests that inflation pressures may be easing, which could lead the Federal Reserve to cut interest rates later this year.

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