Wyeth surges 20%; hits upper limit on merger plans with Pfizer
Shares of Wyeth zoomed by 20 per cent to hit the upper circuit limit after the company announced its plan to merge with Pfizer.
By PTI | Updated:
MUMBAI: Shares of pharmaceutical firm Wyeth today zoomed by 20 per cent to hit the upper circuit limit after the company announced its plan to merge with Pfizer.
Wyeth scrip surged 20 per cent to Rs 776.80 -- its upper circuit limit for the day on the BSE.
Similarly, at the NSE, the stock jumped 20 per cent to Rs 780.10 -- its highest trading permissible limit for the day.
The board of directors of the company will meet on November 23, 2013, to consider a scheme of amalgamation of the company with Pfizer, Wyeth said in a filing to the BSE.
The broad of the pharma company will also consider declaration of interim dividend.
Meanwhile, in a weak broader market, the benchmark Sensex ended the day at 20,635.13, down 255.69 points or 1.22 per cent.
Wyeth scrip surged 20 per cent to Rs 776.80 -- its upper circuit limit for the day on the BSE.
Similarly, at the NSE, the stock jumped 20 per cent to Rs 780.10 -- its highest trading permissible limit for the day.
The board of directors of the company will meet on November 23, 2013, to consider a scheme of amalgamation of the company with Pfizer, Wyeth said in a filing to the BSE.
The broad of the pharma company will also consider declaration of interim dividend.
Meanwhile, in a weak broader market, the benchmark Sensex ended the day at 20,635.13, down 255.69 points or 1.22 per cent.
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