Sun Pharma Advanced Research Company rose 1.45% to Rs 324.20 at 9:27 IST on BSE after the company scheduled a board meeting on 5 May 2017 to consider raising of additional funds.
The announcement was made after market hours yesterday, 2 May 2017.
Meanwhile, the S&P BSE Sensex was up 53.28 points, or 0.18%, to 29,974.46. The S&P BSE Mid-Cap index was up 129.47 points, or 0.87%, to 14,927.92.
On the BSE, so far 8,776 shares were traded in the counter, compared with average daily volumes of 77,111 shares in the past one quarter. The stock had hit a high of Rs 326.20 and a low of Rs 322.55 so far during the day.
The mid-cap company has equity capital of Rs 24.69 crore. Face value per share is Re 1.
Sun Pharma Advanced Research Company (SPARC) said that the company's board of directors would meet on 5 May 2017 to consider raising of additional funds through issue of equity shares/ warrants convertible into equity shares of the company on preferential basis to certain promoter/ non-promoter entities.
SPARC reported net loss of Rs 66.33 crore in Q3 December 2016, higher than net loss of Rs 41.02 crore in Q3 December 2015. Net sales fell 31.3% to Rs 23.05 crore in Q3 December 2016 over Q3 December 2015.
SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
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