Trending Today - Share price of this penny stock surges ahead of the ex-dividend date of the company

This company is engaged in the business of pharmaceutical formulations.

Shares of Syncom Formulations (India) Ltd, an S&P BSE SmallCap company are buzzing on the bourses today. As of 12.39 pm, the shares of the company are trading at Rs 8.71 apiece, up by 1.87% over the previous close. Meanwhile, the frontline index S&P BSE Sensex is up by 0.85%.

The surge in the share price of Syncom Formulations (India) Ltd comes ahead of the ex-dividend of the company, which is tomorrow, 09 September 2022. The company has declared a dividend of Rs 0.03 per equity share, which represents a 3% dividend on face value of Rs 1 per equity share.

Syncom Formulations (India) Ltd is engaged in the business of pharmaceutical formulations. The company manufactures a range of products in various dosage forms and markets them in various countries. In addition to pharmaceutical formulations in the form of tablets, capsules, liquids and dry powders, the company also manufactures injectables, inhalers and ear/eye drops. The product range of the company includes Generic- Tablets, Capsules, Liquid Orals, Vials, Eye/Ear Drops, Ampoules and Dry Powder Orals.

In the recent quarter Q1FY23, on a standalone basis, the company’s net revenue increased marginally by 0.26% YoY to Rs 51.40 crore. The bottom line stood at Rs 3.87 crore. The company is currently trading at a TTM PE of 44.02x against the industry PE of 38.21x. In FY22, the company delivered an ROE & ROCE of 8.91% and 12.39%, respectively. The company has a market capitalization of Rs 827.20 crore.

Today, the scrip opened at Rs 8.94, which was also the day’s high. The stock touched the day’s low of Rs 8.71. So far 15,44,116 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 19.49 and Rs 5.80, respectively on BSE.