Suven Life freezes at 20% upper circuit as board to mull rights issue

The stock had hit a 52-week low of Rs 62 on June 20, 2022, and has corrected 50 per cent from its record high level of Rs 124 touched on October 8, 2021

Shares of Suven Life Sciences were locked in the 20 per cent upper circuit band at Rs 76.60 on the BSE on Tuesday on the back of heavy volumes after the company announced that its board will meet on Friday, June 24, 2022 to consider rights issue plan. In comparison, the S&P BSE Sensex was up 1.8 per cent at 52,521 points at 03:03 PM.

The counter saw huge trading volumes with a combined 3.02 million equity shares, representing 2 per cent of total equity of Suven Life, changing hands on the BSE and NSE. There are pending buy