Orchid Chemicals jumps on CDR EG approval for debt recast - The New Indian Express

Orchid Chemicals jumps on CDR EG approval for debt recast

Published: 18th March 2014 11:19 AM

Last Updated: 18th March 2014 11:19 AM

Orchid Chemicals & Pharmaceuticals shares jumped on Tuesday after it has accepted the Letter of Approval (LOA) dated Mar. 10, 2014 issued by Corporate Debt Restructuring Empowered Group (CDR EG) approving the Corporate Debt Restructuring proposal submitted by the company.

Shares of the company are trading at Rs 53.60, up Rs 4.85, or 9.95% at the Bombay Stock Exchange (BSE) on Tuesday at 10:02 a.m.The scrip has touched an intra-day high of Rs 53.60 and low of Rs 51.55. The total volume of shares traded at the BSE is 92,186.In the earlier session, the shares declined 3.08%, or Rs 1.55, at Rs 48.75.Currently, the stock is trading down 37.53% from its 52-week high of Rs 85.80 and above 53.14% over the 52-week low of Rs 35.

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