Alembic Spurts On Buyback Plan To The Sensex - Nov 08, 2008

Meanwhile, the BSE Sensex was up 73.50 points, or 0.76%, to 9,807.72.On BSE, 1.08 lakh shares were traded in the counter. The stock had an average daily volume of 87,677 shares in the past one quarter.The stock hit a high of Rs 36 and a low of Rs 29.50 so far during the day. The stock has a 52-week high of Rs 107.30 on 17 December 2007 and a 52-week low of Rs 24.75 on 24 October 2008.

The small-cap stock had outperformed the market over the past one month till 6 November 2008, declining 16.49% as compared to the Sensex's decline of 17.52%. It had underperformed the market in the past one quarter, declining 32.75% as compared to the Sensex's decline of 35.42%.

The company's current equity is Rs 27.69 crore. Face value per share is Rs 2.

The current price of Rs 33.65 discounts the company's Q2 September 2008 annualized EPS of Rs 4.35, by a PE multiple of 7.74.

Alembic's board will meet on 14 November 2008 to consider buyback of own shares. The company made this announcement during trading hours today, 7 November 2008.

Alembic's net profit fell 67% to Rs 15.04 crore on 13.1% increase in net sales to Rs 344.68 crore in Q2 September 2008 over Q2 September 2007.

The company is engaged in manufacturing and selling bulk drugs and pharmaceutical formulations in human and animal healthcare. It manufactures and markets antibiotics and antibacterial, cough and cold remedies, analgesic and anti-inflammatory medications, nutraceuticals and anti-diabetics.