Surya Pharmaceutical is trading higher by 2% at Rs 337 after the board recommended a sub-division of the fully paid equity shares of Rs 10 each to fully paid equity shares of Re 1 each.
The board has called an extra ordinary general meeting (EGM) on December 06, 2010, for seeking approval of the company's shareholders.
Meanwhile, the pharma company posted a 35% jump in net profit to Rs 25.75 crore for the quarter ended September 2010 compared to Rs 19 crore in the same quarter of the previous fiscal. Net sales grew 45% to Rs 39.66 crore (Rs 27.28 crore) during the recently concluded quarter.
The company raised $25 million by issuing shares at a price of Rs 290 a share.
The stock of Surya Pharma opened at Rs 335 and touched a high of Rs 340 on the BSE. Around 16,000 shares have changed hands on the counter this morning. The shares have appreciated 27% in the last twelve trading days from Rs 265 on October 20, 2010.
