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Suven Pharma jumps on setting record date for bonus issue

Capital Market 

Suven Pharmaceuticals rose 2.52% to Rs 765.75 after the company said its board fixed 28 September 2020 as the record date to ascertain shareholders eligible to receive bonus shares.

Last month, the board of Suven Pharma recommended issuing one bonus share for each share held (1:1).

The stock surged 339.83% from its 52-week low of Rs 174.10 hit on 24 March 2020.

The pharma company's consolidated net profit fell 0.4% to Rs 91.52 crore on a 20.7% increase in net sales to Rs 238.23 crore in Q1 June 2020 over Q1 June 2019.

Suven Pharmaceuticals is engaged in the business of contract development and manufacturing operations (CDMO).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 17 2020. 10:55 IST