The company made this announcement after market hours on Monday, 4 January 2010.
Meanwhile, the BSE Sensex was up 129.17 points, or 0.74%, to 17,687.90.
On BSE, 28,447 shares were traded in the counter as against an average daily volume of 2.22 lakh shares in the past one quarter.
The stock hit a high of Rs 34 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 32.60 so far during the day. The stock hit a lifetime low of Rs 9.10 on 13 March 2009.
The small-cap stock had outperformed the market over the past one month till 4 January 2010, gaining 6.29% as compared to the Sensex's 2.67% rise. It had also outperformed the market in the past one quarter, rising 29.96% as compared to the Sensex's return of 3.54%.
The company's equity capital is Rs 15.23 crore. Face value per share is Rs 1.
The current price of Rs 33 discounts the company's Q2 September 2009 annualized EPS of Rs 7.64, by a PE multiple of 4.32.
Nectar Lifescience's net profit rose 6.9% to Rs 29.10 crore on 7.6% increase in net sales to Rs 253.76 crore in Q2 September 2009 over Q2 September 2008.
The company is engaged in manufacturing bulk drugs. The products include cefotaxime acid, cefuroxime acid, mica acid, sodium bi carbonate, tetra hydro furon, atorvastatin, cefalothin, cefdinir, cefprozil and clythromycin. The plants are located at Punjab, Himachal Pradesh and Jammu & Kashmir.