Aventis Pharma surges on profit jump

Shares of Aventis Pharma rose by nearly 6 per cent in early trade on the BSE on Thursday, boosted by an over four-fold jump in net profit for the quarter ended December 31, 2010.

The company on Wednesday posted an over four-fold increase in net profit to Rs 104.9 crore for the three-month period ended December 31, 2010.

The board of the pharma firm has recommended a final dividend of Rs 23 per share of Rs 10 face value for the year ended December 31, 2010.

Cheering the robust earnings and dividend declaration, the stock jumped by 5.81 per cent to touch a one-month peak of 1,945 on the Bombay Stock Exchange.

In a similar fashion, Aventis Pharma spurted by 7 per cent on the National Stock Exchange to touch an early peak of Rs 1,952.