Drama in Alembic Board room as minority shareholders rise

Sources say of the 1,000 odd small shareholders, 440 were appointed in the last 3 days

As drama unfolds in the Board room of the country's oldest pharmaceutical entity Alembic, with small shareholders pushing for a Board seat in Alembic Ltd to ensure better investor returns, shares of both Alembic Ltd and Alembic Pharma rallied in the bourses on Monday. 

However, sources in the investor community say that most of these minority shareholers (around 440 of the total 1000) were 'created' in the last three days. 

Share prices of Alembic Ltd ended day's trade up 7.75 per cent at Rs 43.25 a share during the day thanks to shareholder activism. Shares were up 11 per cent in the