Share price of Divis Labs rises as Nifty strengthens

A total of 19,035 shares changed hands on the counter till 10:00AM (IST).

By ETMarkets.com | Oct 09, 2024, 10.00 AM IST

Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.

Shares of Divi's Laboratories Ltd. gained 4.14 per cent to Rs 5777.0 in Wednesday's trade as of 10:00AM (IST).

The stock hit a high price of Rs 5881.95 and low of Rs 5634.55 during the session.

The return on equity (ROE) for the stock stood at 11.78 per cent. Traded volume on the counter stood at 10:00AM shares and turnover at Rs 11.04 crore around that time.

The stock of Divi's Laboratories Ltd. quoted a 52-week high and 52-week low prices of Rs 5881.95 and Rs 3300.0, respectively.

The Beta value of the counter, which measures its volatility in relation to the broader market, stood at 1.0.

Promotor/FII Holding

Promoters held 51.9 per cent stake in the company as of 30-Jun-2024, while FIIs held 16.16 per cent and domestic institutional investors had 21.66 per cent.

Key Financials
The company reported consolidated sales of Rs 2197.0 crore for the quarter ended 30-Jun-2024, down 7.77 per cent from previous quarter's Rs 2382.0 crore and down 18.18 per cent from the year-ago quarter's Rs 1859.0 crore.

Net profit after tax for the latest quarter stood at Rs 430.0 crore, up 20.79 per cent from the same quarter a year ago.

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