Nestle India gained 4% to Rs 12,266 apiece, surging 7% during current week, after the company reported a 11% year-on-year (YoY) rise in net profit to Rs 438 crore for the quarter ended June 2019.
Abbott India's revenue from operations of the company stood at Rs 947.65 crore for the third quarter
According to analysts, AIL's presence in the high-margin vaccine segment is likely to drive its future growth
The pharma major walks around the prescribed lines to build a corporate identity beyond the medicines in its Indian portfolio
The growth has come at a time when GST implementation affected most Indian pharma companies including Abbott's MNC peers
The total income of the company also rose to Rs 946.04 crore for the July-September quarter of 2017-18
The stock was locked in upper circuit of 20% at Rs 5,401, also its 52-week high on the BSE.
NPPA decided to allow withdrawal under exceptional circumstances and by relaxing mandatory six months prior intimation in public interest
Abbott has been trying to withdraw its stent from India since the NPPA capped coronary stent prices
The firm had posted the net profit of Rs 74.01 crore in the same quarter last financial year
Regular disposal of medicines is for preventing contamination, toxicity and drug resistance
Health camps have become an industry-wide marketing gimmick in India
In February this year, Abbott India announced resignation of its managing director Rehan A Khan