Axis Mutual Fund sells 11,08,795 shares of Ipca at Rs 453.64

On June 16, 2017, about 11,08,795 shares of Ipca Laboratories were sold at Rs 453.64 on NSE by Axis Mutual Fund A/C Axis Long Term Equity Fund.

Ipca Laboratories is a Mumbai based international pharmaceutical company. It is a manufacturer and supplier of over 10 active pharmaceutical ingredients (APIs). It offers APIs, such as atenolol, hydroxychloroquine sulfate, morantel citrate, pyrantel pamoate and zaltoprofen.

On June 15,2017, the USFDA has refused admission to all drugs of Ipca Loboratories made at the company's Pithampur and Silvassa facility until the company demonstrates that the drugs manufactured from these manufacturing sites and intended for the US market are in compliances with cGMP.
 
Ipca Laboratories’ YTD generated a negative return of 11.21 per cent while its three months performance was down by 13.92 per cent and its one year performance was down by 1.09 per cent.  Ipca Laboratories is underperforming when compared with S&P BSE Healthcare as BSE Healthcare YTD delivered a negative return of 3.94, while its three months and one year performance was down by 8.89 and 5.44 percent respectively.  
 
Ipca Laboratories P/E stood at 30.60, which is higher in comparison to its peers like Alkem Laboratories and Torrent Pharmaceuticals whose P/E stood at 25.14 and 21.92 respectively.   

On June 16,2017, Ipca Labortories closed at Rs 471.70, down by 8.08 per cent in comparison to its previous close of Rs 513.15 on BSE. The scrip opened at Rs 464.00 and has touched a high and low of Rs 484.40 and Rs 437.00 respectively. 
 
The share touched its 52-week high Rs 657.60 and 52-week low Rs 424 on 05 April, 2017 and 24 June, 2016, respectively.