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Parabolic Drugs debuts marginally higher

July 1, 2010

MARKETS-SOUTHASIA-STOCKS/Parabolic Drugs Ltd debuted on the BSE marginally above its issue price of 75 rupees on Thursday but later fell more than 14 percent in intra-day trade.

Shares in the counter ended 13.6 percent lower at 64.80 rupees with volumes of 7.8 million shares.

The Chandigarh-based firm, which makes active pharmaceutical ingredients and provides contract research and manufacturing services (CRAMS), plans to invest about 466.2 million rupees of the proceeds in its unit Parabolic Research Labs, it said in a statement.

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