Panacea Biotech surges on fund raising plans
The stock surged 15% to Rs 186 on NSE after the company announced fund raising plans of upto Rs 250 crore.
Panacea Biotech has surged 15% to Rs 186 after the company announced fund raising plans of upto Rs 250 crore.
The board of directors of biotechnology firm is schedule to meet on August 1 to consider raising of funds by way of issue of securities aggregating upto Rs 250 crore or equivalent thereof in any currency, Panacea Biotech said in a statement.
The board will also consider and approve the provisional unaudited financial results for the quarter ended June 30, 2014, it added.
The stock opened at Rs 165 and hit a high of Rs 189 on NSE. A combined 217,000 shares changed hands on the counter so far on BSE and NSE.
The board of directors of biotechnology firm is schedule to meet on August 1 to consider raising of funds by way of issue of securities aggregating upto Rs 250 crore or equivalent thereof in any currency, Panacea Biotech said in a statement.
The board will also consider and approve the provisional unaudited financial results for the quarter ended June 30, 2014, it added.
The stock opened at Rs 165 and hit a high of Rs 189 on NSE. A combined 217,000 shares changed hands on the counter so far on BSE and NSE.
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First Published: Jul 24 2014 | 10:29 AM IST