Arvind Remedies was locked at a 20% upper circuit at Rs 16.60 at 15:20 IST on BSE after a board meeting will be convened on 11 July 2015 to consider the proposal for investment by a potential investor in the company to make unit viable.
The company made announcement after market hours on Friday, 3 July 2015.
Meanwhile, the S&P BSE Sensex was up 112.86 points or 0.40% at 28,205.65.
On BSE, so far 10.73 lakh shares were traded in the counter as against average daily volume of 3.3 lakh shares in the past one quarter.
Shares of small-cap pharma company was locked at a high of Rs 16.60. The stock hit a low of Rs 14.25 so far during the day. The stock hit a 52-week high of Rs 66.05 on 8 September 2014. The stock hit a 52-week low of Rs 10 on 27 March 2015.
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