Moneycontrol Be a Pro
Get App
Last Updated : Aug 14, 2015 01:54 PM IST | Source: Moneycontrol.com

FIPB nods to raise FII cap to 31.5%; Natco Pharma up 3%

The company at its meeting held on August 12, 2015, has approved the sub-division of face value of equity shares from Rs 10 each to Rs 2 each.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Moneycontrol Bureau

Shares of Hyderabad-based Natco Pharma gained 3 percent intraday Friday on the back of Foreign Investment Promotion Board (FIPB) approval to raise foreign investment limit 31.5 percent from 24 percent.

It has also got an approval for issue and allotment of securities to qualified institutional buyers (QIBs) up to Rs 450 crore.

The company at its meeting held on August 12, 2015, has approved the sub-division of face value of equity shares from Rs 10 each to Rs 2 each.

It reported 15.6 percent decline in its first quarter (Q1FY16) consolidated net profit to Rs 28.23 crore against Rs 33.46 crore, in the same quarter last fiscal.

At 09:55 hrs Natco Pharma was quoting at Rs 2,319.30, up Rs 37.25, or 1.63 percent on the BSE.

Posted by Rakesh Patil

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Aug 14, 2015 10:03 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant