Claris Lifesciences stock rallies on buyback, interim dividend news

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Claris Lifesciences stock rallies on buyback, interim dividend news
Claris Lifesciences: Quotes, News
BSE 290.55BSE Quote8.85 (3.05%)
Shares in Claris Lifesciences rallied more then three per cent on the Bombay Stock exchange, after the company informed the exchange that the board would consider buyback and rights issue of shares.

The stock was last trading at Rs 204, up three per cent on the Bombay Stock Exchange.

"Claris Lifesciences Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 07, 2014, inter alia, to consider, a proposal for (i) Buy Back of the equity shares of the Company subject to approval of shareholders of the Company and applicable laws, and (ii) declaration of interim dividend subject to applicable laws," the company said in a filing to the exchange.

Claris Lifesciences is an Indian sterile injectables pharmaceutical company with a market presence across 100 countries worldwide. The company manufactures and market products across multiple markets, and therapeutic segments. A significant majority of these products are generic drugs that are capable of being directly injected into the human body and are predominantly used in the treatment of critical illnesses.

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