Sequent Scientific spurted 12.68% to Rs 631 at 11:41 IST on BSE after the company said it has allotted 11 lakh warrants at a price of Rs 475 per warrant to a promoter group entity.
The announcement was made during market hours today, 13 April 2015.
Meanwhile, the S&P BSE Sensex was up 20.26 points or 0.07% at 28,899.64.
On BSE, so far 74,000 shares were traded in the counter as against average daily volume of 29,783 shares in the past one quarter.
The stock hit a high of Rs 640 so far during the day, which is a record high for the counter. The stock hit a low of Rs 565 so far during the day. The stock had hit a 52-week low of Rs 199 on 11 April 2014.
The stock had outperformed the market over the past one month till 10 April 2015, advancing 2.12% compared with Sensex's 0.59% rise. The scrip had also outperformed the market in past one quarter, jumping 11.92% as against Sensex's 5.18% rise.
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The small-cap company has equity capital of Rs 30.49 crore. Face value per share is Rs 10.
Sequent Scientific said it has on Saturday, 11 April 2015, allotted 11 lakh warrants at a price of Rs 475 per warrant convertible into 11 lakh equity shares of Rs 10 to Pronomz Ventures LLP, a promoter group entity. The warrants are convertible into equity shares within a period of 18 months from the date of issue.
On consolidated basis, Sequent Scientific reported net loss of Rs 11.28 crore in Q3 December 2014, lower than net loss of Rs 15.07 crore in Q3 December 2013. Net sales declined 2.2% to Rs 111.24 crore in Q3 December 2014 over Q3 December 2013.
Sequent Scientific is an India-based integrated pharmaceutical company.
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