Morepen Labs up 5.11% on news of signing pact with Avenue
Active Stock: Morepen Labs up 5.11% on news of signing pact with Avenue Morepen Laboratories rose 5.11% on news of signing agreement with G L India Mauritius III, a subsidiary of Avenue Capital Group (Investor). Shares of the company were last trading up Rs 0.90, or 5.11%, at Rs 18.50, against the previous day`s close of Rs 17.60 (11.11 a.m, Thursday). Total volume of shares traded were 701,348 at the BSE . Morepen Laboratories, stepped into a pact with G L India Mauritius III, a subsidiary of Avenue Capital Group (Investor), for subscribing equity shares and naked warrant to the tune of 14.99% and 5% respectively, of the equity share capital of the company. The company plans to issue and allot equity shares and naked warrants convertible into equity shares in due course, on receipt of the subscription money and also after necessary formalities. The stock gained 6.63% over the past week, and 10.12%, over the last month.
