India's Shilpa Medicare climbs to over two-year high

Shilpa Medicare

09/04/2024 07:43

** Shares of Shilpa Medicare Ltd  SHME.NS  rise as much as
5.4% to 533.15 rupees, their highest since Feb 3, 2022
    ** The pharmaceutical co launches qualified institutions
placement (QIP) issue late on Monday at the floor price of
477.33 rupees apiece 
    ** Co earlier in Feb had said it will issue securities worth
up to 5 bln rupees via QIP, which is 11.4% of outstanding market
capital - LSEG 
    ** Stock on track to gain for a third straight day, if
current trend holds
    ** More than 988,000 shares traded, nearly double their
30-day moving avg of 552,417 shares 
    ** SHME stock has gained 61%, YTD

    

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))