Meanwhile, the BSE Sensex was up 11.53 points or 0.06% to 18,011.56.

On BSE, 6,734 shares were traded in the counter as against average daily volume of 3.73 lakh shares in the past two weeks.

The stock hit a high of Rs 114.50 and a low of Rs 112.50 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 2.59% based on the closing price of Rs 115.75 on Wednesday, 12 September 2012.

Orchid Chemicals & Pharmaceuticals last month said it had entered into a business transfer agreement (BTA) with Hospira for the sale and transfer of Orchid's Penicillin and Penem active pharmaceutical ingredient (API) business and the API facility at Aurangabad in Maharashtra together with an associated Process R&D infrastructure in Chennai for a total cash consideration of approximately $200 million.

Orchid Chemicals & Pharmaceuticals reported consolidated net loss of Rs 54.02 crore in Q1 June 2012, compared with net profit of Rs 16.92 crore in Q1 June 2011. Net sales declined 11.7% to Rs 364.63 crore in Q1 June 2012 over Q1 June 2011.

Orchid Chemicals & Pharmaceuticals is involved in the development, manufacture and marketing of diverse bulk activities, formulations and nutraceuticals.