Dishman Pharma soars 6.5%; board approves 1:1 bonus share issue

The stock has rallied after the board recommended a 1:1 bonus share subject to shareholders’ approval.

Dishman Pharmaceuticals and Chemicals Ltd soared 6.5% to Rs.324.70 on BSE. The company has informed BSE that the Board of Directors of the Company at its meeting held on February 24, 2016, inter alia, has considered and recommended a bonus issue of equity shares in the ratio of 1 equity share for every 1 equity share held, as on the record date to be determined by the Board.

The scrip opened at Rs. 313 and has touched a high and low of Rs. 327.25 and Rs. 313 respectively. So far 561088(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2463.77 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 419.7 on 04-Nov-2015 and a 52 week low of Rs. 126.05 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 318 and Rs. 290.1 respectively.

The promoters holding in the company stood at 61.4 % while Institutions and Non-Institutions held 23.87 % and 14.73 % respectively.

The stock is currently trading below its 100 DMA.