Small-Cap Pharma Stock Soars 12% on Corporate Announcement

  • Investing.com
  • Stock Market News
Small-Cap Pharma Stock Soars 12% on Corporate Announcement
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the small-cap pharmaceutical company Marksans Pharma (NS: MARK ) zoomed 12% to trade at Rs 48.5 apiece at 9:43 am, after soaring over 14% in early trade on Tuesday.

The stock jumped in response to the company’s board set to meet on July 8, 2022, and consider the proposal for a share buyback.

The company informed that its board of directors will meet on Friday to consider a proposal for the buyback of its fully paid-up equity shares up to an amount aggregate to the company’s share capital and free reserves, as the board may decide, said the company in a press release.

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