The announcement was made during trading hours today, 9 September 2011.

Meanwhile, the BSE Sensex was down 74.15 points, or 0.43%, to 17,091.39.

On BSE, 12,974 shares were traded in the counter compared with average volume of 3,826 shares over the past two weeks.

The stock hit a high of Rs 319.95 and a low of Rs 314 so far during the day.

Ipca held 32.3% stake in Tonira Pharma as on 30 June 2011. Shares of Tonira Pharma hit upper circuit limit of 20% at Rs 22.50 on BSE.

Net profit of Ipca Laboratories rose 58.78% to Rs 61.67 crore on 27% rise in net sales to Rs 526.33 crore in Q1 June 2011 over Q1 June 2010.

Ipca Laboratories is a fully backward integrated pharmaceutical company with a strong thrust on exports. It manufactures active pharmaceutical ingredients (APIs), which it produces right from the basic stage. Ipca is also one of the largest suppliers of these APIs and their intermediates world over.

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