Shilpa Medicare hits record high ahead of board meet

Shares in Shilpa Medicare Ltd gained as much as 5.5 per cent to a record high of Rs 457.80 ahead of a board meeting later in the day to consider a preferential issue, traders said.

The company, backed by private equity funds Baring Private Equity Partners and Tano Capital, said on Wednesday its board will meet on April 11 to consider a preferential allotment of shares.

Shares in the company were up 4.02 per cent at Rs 451.2 by 0427 GMT.

Copyright: Thomson Reuters 2014