The announcement was made during trading hours today, 22 March 2012.

Meanwhile, the BSE Sensex was down 178.66 points, or 1.02%, to 17,423.05.

On BSE, 71,959 shares were traded in the counter as against an average daily volume of 1,348 shares in the past one quarter.

The stock hit a high of Rs 412.80 and a low of Rs 377.65 so far during the day. The stock had hit a 52-week high of Rs 485 on 8 July 2011. The stock had hit a 52-week low of Rs 360 on 24 October 2011.

The stock had underperformed the market over the past one month until 21 March 2012, falling 5.09% compared with the Sensex's 4.49% fall. The scrip had also underperformed the market in past one quarter, sliding 4.21% as against 12.22% rise in the Sensex.

The small-cap company has an equity capital of Rs 12.29 crore. Face value per share is Rs 10.

Net profit of Indoco Remedies declined 6.24% to Rs 8.26 crore on 23.80% rise in net sales to Rs 141.52 crore in Q3 December 2011 over Q3 December 2010.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India. Indoco has a brand portfolio of 135 products in various therapeutic segments, including high growth life style segments such as anti-diabetics, cardiovascular, central nervous system, musculo-skeletal, nutrition and dental care.