Buzzing stock: Panacea Biotec jumps 5 per cent post initiating production of Sputnik V vaccine
Russian Direct Investment Fund (RDIF) along with Panacea Biotec announced on Monday about the launch of Russian Sputnik V vaccine production against Coronavirus.
Reacting to this, the company’s stock today increased by 4.99 per cent and made an intraday high of Rs 406.10 per share. The stock of the company has increased by 178 per cent from its decline in May 2020.
The company reported a net loss of Rs 40 crore in Q3FY21. In Q3FY20, it had reported a net loss of Rs 20.21 crore. The company reported net sales of Rs 141.76 crore for Q3FY21, which is a decrease of 15.49 per cent, as against the net sales of Rs 167.74 crore for Q3FY20.
Sputnik V has been registered in 66 countries globally. Efficacy of Sputnik V is 97.6 per cent based on the analysis of data on Coronavirus infection rate among those in Russia vaccinated from December 5, 2020 to March 31, 2021.
Panacea Biotec focusses on the discovery, development & commercialisation of prescription-based medicines primarily on vaccines, diabetes, transplant, gastroenterology, and oncology.
According to BSE data, the stock traded at a price-to-book ratio of 4.53. The stock has a 52-week high and a 52-week low of Rs 407.20 and Rs 141.56, respectively.
At 12.12 pm today, the share of the company was trading at Rs 406.10 per share on BSE, up by 4.99 per cent.