Share of Zydus Wellness gained over 4% in early trade today after board of the firm cleared raising of funds via a QIP issue. Zydus Wellness stock rose 4.11% to Rs 1,789 against the previous close of Rs 1718 on BSE.
Total 5360 shares changed hands amounting to turnover of Rs 97.44 lakh. The stock has gained after 3 days of consecutive fall.
The share is trading higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The share has gained 0.77% in one year and risen 19.64% since the beginning of this year.
Market cap of the firm rose to Rs 10,155 crore on BSE. At 1:00 pm, the share was trading 2.48% or Rs 42.60 higher at Rs 1761 on BSE.
The firm in a communication to BSE said, "Raising of funds by way of issue of Equity Shares, through a QIP; (ii) Approved and authorised the opening of the QIP, today, i.e. on September 23, 2020; Approved the floor price for the QIP, being Rs. 1,775.85 per Equity Share."
Floor price for QIP has been set at Rs 1775.85 per equity share.
Meanwhile, Sensex and Nifty were trading nearly 2% lower on weak global cues. Extending fall for the sixth consecutive session, the BSE 30-share benchmark Sensex traded 734 points lower at 36,946 and NSE Nifty 50 fell 208 points to 10,922.