Orchid Chemicals & Pharmaceuticals redeems FCCBs due in February 2012

Orchid Chemicals & Pharmaceuticals Ltd has redeemed the outstanding Foreign Currency Convertible Bonds (FCCBs), including yield-to-maturity, aggregating US$ 167.64 million on the due date of February 28, 2012. These bonds were issued in February 2007.

The Orchid Chemicals & Pharmaceuticals Ltd stock closed the day at Rs.185.70, down by Rs.3.30 or 1.75%. The stock hit an intraday high of Rs.190 and low of Rs.182.

The total traded quantity was 3.38 lakhs compared to 2 week average of 9.19 lakhs.

Source : Equity Bulls

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