Orchid Chemicals & Pharmaceuticals, an Indian pharmaceutical company based in Chennai, witnessed a rise in share price on Tuesday after the allotment committee of the board of directors has allotted 1,48,09,801 equity shares of Rs 10 each at Rs 49.79 (including a premium of Rs 39.79 a share) as the first tranche to the promoter group company Orchid Healthcare on preferential basis as per the corporate debt restructuring (CDR) scheme approved by the CDR empowered group in terms of CDR scheme.
Shares of the company are trading at Rs 64.35, up Rs 1.25, or 1.98% at the Bombay Stock Exchange (BSE) on Tuesday at 11:13 a.m. The scrip has touched an intra-day high of Rs 65.40 and low of Rs 64. The total volume of shares traded at the BSE is 161,832.