Shares of textile company rallied nearly 10 per cent after the company said its board of directors will consider a proposal of raising funds by issue of equity shares.
“The board of directors of the company will be held on Thursday, September 22, 2022, to consider, inter alia, the proposal of raising of funds by issue of equity shares by way of a rights issue to the eligible equity shareholders of the company,” Bombay Dyeing said in a BSE filing.
At 11:14 am, the scrip was trading 6.27 per cent higher at Rs 106.85 over the previous day’s closing of Rs 100.55 a piece. The stock has surged nearly 21 per cent in the past three months, while it has risen about 18 per cent in the last year.
For the quarter ended June 30, 2022, the company reported consolidated net sales of Rs 606.37 crore, up 59.21 per cent from the year-ago quarter’s net sales of Rs 380.85 crore. The company reported a net loss of Rs 76.82 crore for the latest quarter.
The stock has hardly any analyst coverage.
The promoter group holds around 53.66 per cent stake in the company, while FIIs hold 0.6 per cent.
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Source: https://economictimes.indiatimes.com/markets/stocks/news/bombay-dyeing-jumps-10-as-company-plans-to-raise-funds-by-issuing-equity-shares/articleshow/94325136.cms
