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Pharma stock rallies 17 percent as board to consider bonus shares issue this week

05 Jul , 2022   By : Kanchan Joshi


Pharma stock rallies 17 percent as board to consider bonus shares issue this week

Shares of Marksans Pharma rallied more than 17% to Rs50 apiece on the BSE in Tuesday's trading session after the company informed its plans to consider the issue of bonus shares. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.


The company's board will meet this week on Friday, July 8, 2022 to consider the proposal for bonus shares issue. “We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 8th July, 2022 to consider the proposal for buyback of fully paid up equity shares of the Company upto such amount of the aggregate of Company's paid up equity share capital and free reserves," Marksans Pharma said in an exchange filing.


Marksans Pharma Ltd. is an Indian pharmaceutical company having a global footprint in research, manufacturing and marketing of finished dosage pharmaceutical formulations. Marksans Pharma shares have declined more than 45% in a year's period, whereas the pharma stock is down about 18% in 2022 (YTD) so far.


It is further informed that the trading window for dealing in the shares of the company for the designated person(s) is already closed w.e.f. July 0 I, 2022 and will remain closed till 48 hours after the declaration of unaudited financial results for the quarter ended June 30, 2022, the company added.


Last month, the company informed that its board at its meeting held on 30th May, 2022 at Mumbai, recommended final dividend @ Re. 0.25 (Rupee Zero and Paise Twenty Five) i.e. 25% per equity share of Re. 1/- each face value for the financial year ended 31st March, 2022, subject to approval of the shareholders in the ensuing Annual General Meeting (AGM). The Book Closure/ Record Date for the Final dividend will be intimated in due course.


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