Pharma major Dr Reddys Laboratories today said that Andhra Pradesh High Court has approved the scheme of arrangement for issue of bonus debetures.
Dr Reddys has earlier announced the issue of bonus debentures upto an amount of Rs 520 crore in the ratio of six bonus debenture of Rs 5 each for every share of Rs 5 held by the shareholders.
The company's stock was trading at Rs 1,345.50, nearly 2.30 per cent higher than Wednesday's closing.
