Glenmark Pharmaceuticals approves allotment of 18712935 shares

Glenmark Pharmaceuticals Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on September 18, 2009, has approved the allotment of 18,712,935 equity shares of face value of Re. 1 pursuant to the qualified institutions placement of its equity shares and authorized the Company to do such acts necessary to effect the allotment and listing of the equity shares.

The stock closed the day at Rs.221.90, up by Rs.4.55 or 2.09%. The stock hit an intraday high of Rs.223.80 and low of Rs.215.70.

The total traded quantity was 902001 compared to 2 week average of 414003.

Source : Equity Bulls

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