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Caplin Point Lab hits 11-week high; stock surges 14%

The stock rallied 14% to Rs 430, trading at its highest level since November 16, 2018 on the BSE.

medicines, pharmacy, pharma industry
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Overall volume growth stood at 4.8 per cent, while new introductions accounted for 2.4 per cent growth

SI Reporter Mumbai
Shares of Caplin Point Laboratories surged to its 11-week high price of Rs 430, up 14 per cent on the BSE on Friday.  The stock was trading at its highest level since November 16, 2018.

The pharmaceutical company today announced that the meeting of board of directors of the company is scheduled to be held next Friday, January 18, 2019, to consider and approve the investment by a global financial investor with strong healthcare experience in the wholly-owned subsidiary company, Caplin Steriles.

In a separate regulatory filing, Caplin Point Lab said that its board has approved the business