Plethico Pharmaceuticals' shares today surged over 4.5 per cent, extending its uptrend for the second consecutive day, after it reached a settlement with Aurobindo Pharma on acquisition of US-based Natrol.
The stock ended the day with a gain of 4.53 per cent at Rs 42.70 on the BSE. During the day, it jumped 8.93 per cent to Rs 44.50.
At the NSE, the scrip settled 3.05 per cent higher at Rs 42.20.
Shares of Plethico had hit the circuit limit after it gained 20 per cent in yesterday's trade. Later the BSE fixed the maximum permissible limit for the movement at 10 per cent.
Meanwhile, shares of Aurobindo Pharma went up by 1.26 per cent to end at Rs 1,341.20 on the BSE today.
Aurobindo Pharma yesterday said Plethico will pay it USD 23.3 million and some intellectual property rights to settle a dispute related to the acquisition of US-based Natrol.
Aurobindo Pharma's 100 per cent subsidiary Aurobindo Pharma USA completed the acquisition of Natrol from Plethico for USD 132.5 million on December 5, 2014.
