Natco Pharma is currently trading at Rs 714.00, up by 1.70 points or 0.24% from its previous closing of Rs 712.30 on the BSE.The scrip opened at Rs 721.10 and has touched a high and low of Rs 728.10 and Rs 711.10 respectively. So far 6684 shares were traded on the counter.The BSE group B stock of face value Rs. 10 has touched a 52 week high of Rs 727.00 on 18-Oct-2013 and a 52 week low of Rs 367.90 on 31-Oct-2012.Last one week high and low of the scrip stood at Rs 727.00 and Rs 662.00 respectively. The current market cap of the company is Rs 2234.70 crore.The promoters holding in the company stood at 56.63% while Institutions and Non-Institutions held 20.81% and 22.57% respectively.Natco Pharma will be raising Rs 153 crore from CX Securities, a foreign institutional investor. The board of directors of the company at its meeting held on October 19, 2013 has approved to issue 24 lakh equity shares of Rs 10 each to CX Securities on a preferential basis. The shares will be issued at a price of Rs 638.40 apiece, aggregating to Rs 153 crore, subject to the necessary approvals. The proceeds of the issue will be used for general corporate purposes.Besides, the company also plans to increase the limit of NRIs/PIOs (non-resident Indians/persons of Indian origin) and FIIs to 24-49 percent of the paid-up capital of the company. An extraordinary general meeting of the company will be held on November 14 to consider the proposals.Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
Posted on: Mon, 21 Oct 2013 12:16:35 +0000
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