Orchid Chemicals Jumps 6% on Debt Rejig Plans

Orchid Chemicals shares jumped as much as 6 per cent on Wednesday after it said that it is looking to convert some of its rupee loan to dollar denominated loans to reduce its interest burden. The pharma company in a clarification to the BSE said, "The company is currently in talks with banks to explore the possibility of converting its rupee debt into dollar denominated debt. This plan is to try and reduce the interest burden on the...