India's Natco Pharma hits over 1-mnth high ahead of dividend record date

Natco Pharma

20/02/2023 09:09

** Shares of Natco Pharma Ltd  NATP.NS  rise as much as 3.8%
to 555 rupees, hitting their highest since Jan. 16
    ** NATP is among the top gainers in the Nifty Pharma Index
 .NIPHARM , which is down 0.8%
    ** Stock rises above its 50-day moving simple average, on
track to close above it if gains hold
    ** Co had declared an interim dividend on Feb. 9 of 1.25
rupees per share with the record date set as Feb. 21
    ** Stock posts it sharpest intraday pct gain since Feb. 13
    ** More than 281,450 shares change hands by 2:31 p.m. IST,
1.5x 30-day avg of 186,374 shares
    ** Six of the 14 analysts covering the stock have a 'buy' or
'strong buy' rating, 6 have 'hold,' while 2 rate it at 'sell;'
median PT is 647.50 rupees - Refinitiv data
    ** Stock last up 2.4%, cutting YTD losses to 2.5% compared
to Nifty Pharma Index's  .NIPHARM  4.2% fall
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))