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Suven rises on enhancement of investment limits

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rose 1.04% to Rs 272.90 at 09:28 IST on BSE after the company's board of directors approved enhancement of investment limits in wholly owned subsidiary in USA.

The announcement was made after market hours yesterday, 15 April 2019.

Meanwhile, the S&P was up 233.21 points, or 0.6% to 39,139.05

On the BSE, 6,666 shares were traded in the counter so far compared with average daily volumes of 66,000 shares in the past two weeks. The stock had hit a high of Rs 274.50 and a low of Rs 272.05 so far during the day.

said that the company's board of directors has approved the enhancement of investment limits in wholly owned subsidiary in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline.

Net profit of dropped 27.08% to Rs 25.23 crore on 19.27% fall in total income to Rs 134.78 crore in Q3 December 2018 over Q3 December 2017.

Suven Life Science is a company focused on discovering, developing and commercializing novel

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

First Published: Tue, April 16 2019. 09:33 IST