SPARC announces rights issue; ratio at 5 shares for every 116 shares

The company fixed as the Record Date for determining eligibility of the shareholders to whom the equity shares are to be issued under the proposed Rights Issue of the Company (In the ratio of 5 equity shares for every 116 equity shares held by the shareholders as on the record date).

Sun Pharma Advanced Research Company Ltd has informed BSE that "March 17, 2016" has been fixed as the Record Date for determining eligibility of the shareholders to whom the equity shares are to be issued under the proposed Rights Issue of the Company (In the ratio of 5 equity shares for every 116 equity shares held by the shareholders as on the record date).

Sun Pharma Advanced Research Company Ltd ended at Rs. 293.2, up by Rs. 2.15 or 0.74% from its previous closing of Rs. 291.05 on the BSE.

The scrip opened at Rs. 291.15 and touched a high and low of Rs. 300.95 and Rs. 284.1 respectively. A total of 536932(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 6940.04 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 598 on 10-Mar-2015 and a 52 week low of Rs. 245.1 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 300.95 and Rs. 250.65 respectively.

The promoters holding in the company stood at 67.4 % while Institutions and Non-Institutions held 7.99 % and 24.61 % respectively.

The stock traded below its 200 DMA.