Orchid Chemicals to issue shares to promoters

The Board of Directors of Orchid Chemicals & Pharmaceuticals Ltd at its meeting held on July 14, 2014, has approved the issue of shares to Promoters on a preferential basis pursuant to the conditions of CDR package sanctioned to the Company by Corporate Debt Restructuring Cell. The consent for the same from the shareholders is being sought through Postal Ballot for which the notice will be sent shortly.

Shares of ORCHID CHEMICALS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.73.65 as compared to the previous close of Rs. 70.15. The total number of shares traded during the day was 294530 in over 6284 trades.

The stock hit an intraday high of Rs. 75.15 and intraday low of 68.85. The net turnover during the day was Rs. 21426300.

Source : Equity Bulls

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