Elder Pharmaceutical has surged 13% to Rs 322 in late noon deals on back of heavy volumes on the bourses. The stock of pharmaceutical company has opened at Rs 288 and touched a low of Rs 285 so far on the BSE.
A combined 548,077 shares have changed hands on the counter till 1510 hours against an average less than 100,000 shares that were traded daily in past two weeks on the BSE and NSE.
The company said it has been exploring various options to reduce its debt. The board at its meeting held on July 11, 2013 had already approved the proposal for carrying out restructuring of business involving either raising of capital, hiving off of assets or other strategic options and had decided to appoint advisors for this purpose.
A combined 548,077 shares have changed hands on the counter till 1510 hours against an average less than 100,000 shares that were traded daily in past two weeks on the BSE and NSE.
The company said it has been exploring various options to reduce its debt. The board at its meeting held on July 11, 2013 had already approved the proposal for carrying out restructuring of business involving either raising of capital, hiving off of assets or other strategic options and had decided to appoint advisors for this purpose.
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