Dishman Pharma gains on 1:1 bonus
The stock rallied 7% to Rs 327 on the BSE in early morning trade.
 "Dishman Pharma gains on 1:1 bonus")
Dishman Pharmaceuticals and Chemicals has rallied 7% to Rs 327 on the BSE in early morning trade after the board recommended a 1:1 bonus share subject to shareholders’ approval.
“The board of directors of the company at its meeting held on February 24, 2016, has recommended a bonus issue of equity shares in the ratio of 1 (one) equity share for every 1 (one) equity share held, as on the record date to be determined by the board,” Dishman Pharma said in a statement.
The board also approved scheme of arrangement and amalgamation amongst Dishman Pharmaceuticals and Chemicals, Dishman Care Limited (DCL) and Carbogen Amcis (India) Limited (CAIL).
At 09:26 AM, the stock was up 5% at Rs 320 on the BSE. A combined 463,144 shares changed hands on the counter on the BSE and NSE.
“The board of directors of the company at its meeting held on February 24, 2016, has recommended a bonus issue of equity shares in the ratio of 1 (one) equity share for every 1 (one) equity share held, as on the record date to be determined by the board,” Dishman Pharma said in a statement.
The board also approved scheme of arrangement and amalgamation amongst Dishman Pharmaceuticals and Chemicals, Dishman Care Limited (DCL) and Carbogen Amcis (India) Limited (CAIL).
At 09:26 AM, the stock was up 5% at Rs 320 on the BSE. A combined 463,144 shares changed hands on the counter on the BSE and NSE.