Neuland Lab trading ex-right; stock gains

The Board of Directors of Neuland Laboratories at its meeting held on March 13, 2012 has approved March 23, 2012 to be the Record Date for the purpose of deciding the shareholder who are eligible to apply for equity shares on Rights basis in the proposed issue.

The company propose to issue 2,248,523 equity shares on a right basis to its existing shareholders at an issue price of Rs 45 per equity share aggregating to Rs 101, 183, 535.
Neuland Laboratories touched an intraday high of Rs 80 and an intraday low of Rs 72.95. At 12:14 hrs the share was quoting at Rs 80.00, up Rs 7.82, or 10.83%.
 
It was trading with volumes of 1,403 shares. In the previous trading session, the share closed up 1.65% or Rs 1.17 at Rs 72.18.