Nectar Lifesciences Ltd Stock Quotes and Charts
Pharmaceutical major Nectar Lifesciences on Monday said it will raise 50 million dollar through the issue of securities in international markets. <br><br>The board of directors of the company at its meeting today approved to issue Global Depository Receipts (GDRs), American Depository Receipts (ADRs) or any other international offering of up to 50 million US dollars, the company said in a filing to the Bombay Stock Exchange. <br><br>Meanwhile, the company has received board of directors approval for issue of equity shares to Citi Venture Capital International and Everest Capital (M) Ltd and would sign a non binding term in this regard.
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The company had a not so good quarter this time and so the share price has fallen. Things will improve and the stock will reach Rs40 levels easily and then maybe higher if the results are good.Promoter buying is a very positive sign. Not much downside from here.
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