Despite weak second quarter results, German pharma major Merck's shares rose nearly 20% in trade today. Merck touched a 52-week high of Rs 909.50 on the BSE. after it gained 19.99% or Rs 151.55 to close at Rs 909.50. There were pending buy orders of 13,827 shares, with no sellers available. The total traded volumes were 406,738 shares.
Why the run-up?
The drug major's board of directors today declared an interim dividend of Rs 95 per share for the year ending December 2010. However, the company's second quarter results disappointed the street. Merck's net profit for the quarter was down 5.75% to Rs 24.7 crore from Rs 26.2 crore last year. Its net sales rose 20% to touch Rs 156 crore this quarter versus Rs 130 crore last year.
The company's trailing 12-month (TTM) EPS was at Rs 47.47 per share. (Jun, 2010). The stock's price-to-earnings (P/E) ratio was 19.13. The latest book value of the company is Rs 281.51 per share.
At current value, the price-to-book value of the company was 3.23. The dividend yield of the company was 2.2%.
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