Shilpa Medicare hits record high ahead of board meet

Reuters Market Eye - Shares in Shilpa Medicare Ltd gain as much as 5.5 percent to a record high of 457.80 rupees ahead of a board meeting later in the day to consider a preferential issue, traders say.

The company, backed by private equity funds Baring Private Equity Partners and Tano Capital, said on Wednesday its board will meet on April 11 to consider a preferential allotment of shares.

Shares in the company were up 4.02 percent at 451.2 rupees by 0427 GMT.

(Reporting by Indulal P)