Tuesday, 28 March 2017

Dishman Pharma zooms 20% on merger updates

Shares of Dishman Pharmaceuticals rallied 20 percent and locked in the upper circuit on the Bombay Stock Exchange after the company informed about its amalgamation with Carbogen Amcis (India) (CAIL) and Dishman Care (DCL) with effective from March 17. Following the announcement, shares of the company gained as much as 19.99 per cent to hit the 52-week high in intra-day to trade at Rs 278.20 a piece on Bombay Stock Exchange. 

In a similar fashion, stocks of the company were up 20.00 percent to trade at Rs 278.70 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 29,402.76, up 161.67 points, or 0.57 percent, at 12:10 hours.

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