Financial Daily from THE HINDU group of publications
Friday, May 10, 2002
Financial Daily from THE HINDU group of publications Friday, May 10, 2002 |
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Markets
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ESOPs Dr Reddy's board clears 2.59 lakh stock options Our Bureau
HYDERABAD, May 9 DR REDDY'S Laboratories Ltd (DRL), the Hyderabad-based pharma giant, granted 2.59 lakh stock options to its employees at the compensation committee meeting of its board held here on Thursday. In a communique to the stock exchanges, the company said the stock options, which cover 2.59 lakh shares, were granted at a price of Rs 1,063.02 per stock option. According to DRL, this price was equivalent to weighted average share price of the company during the last 30 days on the Bombay Stock Exchange. These options would have to be exercised in a phased manner after a vesting period of 12 months but before completion of five years from the date of vesting, Dr Reddy's informed the exchanges.
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