IP License Agreement Sends Micro Cap's Shares Soaring

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, June 21, 2022

A Maryland-based holding company just announced that one of its subsidiaries reached an Intellectual Property (IP) license agreement for a potential Alzheimer’s drug development candidate, according to Tuesday’s press release. This news sent shares of the parent company, India Globalization Capital Inc. (NYSE American:IGC) soaring during early trade on Tuesday.

India Globalization Capital Inc. is an investment holding company. The company's operating segment includes Infrastructure and Life Sciences. It generates maximum revenue from the Infrastructure segment. The Infrastructure Business segment involves the execution of construction contracts, the rental of heavy construction equipment, and the purchase and resale of physical commodities used in infrastructure. Geographically, it derives a majority of revenue from Hong Kong and also has a presence in India.

Traders were bullish on the news as shares of this micro cap climbed up to $0.65/share (+12.07%) at the early session high. This adds to the compounded success this stock has had over the last few sessions.

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