India's Orchid Pharma jumps on fund raising plans

Orchid Pharma

02/12/2022 04:25

** Shares of Orchid Pharma Ltd  ORCD.NS  rise as much as
4.9% to 410 rupees, biggest intraday pct. gain since Nov. 14
    ** Co on Thursday approved a Qualified Institutional
Placement programme to raise 5 bln rupees ($61.6 mln)
    ** Stock set to snap 3 straight sessions of losses, if gains
hold
    ** Stock down 1% so far this year, up to last close
 
 ($1 = 81.1420 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))