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IP Rings hits new high ahead of rights issue

The stock hit a record high of Rs 284 in intra-day, rallied 42% in past seven trading sessions

SI Reporter  |  Mumbai 

IP Rings hits new high ahead of rights issue

has moved higher to its record high of Rs 284, up 16% on the BSE in intra-day trade, ahead of the The stock will turn ex-right on Monday, January 16, 2017.

The auto parts & equipment maker has fixed January 17, 2017 as the record date for the purpose of



The board of directors of the company at their meeting held on January 4, approved in the ratio of 4:5 i.e. four rights equity shares for every five shares held on a record date at a price of Rs 88.75 per share including the premium of Rs 78.75 per share.

Since then, the stock outperformed the market by surging 42% from Rs 200 on January 4, as compared to 2.3% rise in the S&P BSE Sensex.

At 11:26 am; it was up 9% at Rs 267 against a marginal 0.04% decline in the benchmark index. Around 67,000 shares have already changed hands on the BSE so far against an average 14,000 shares that were traded daily in past two weeks.

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IP Rings hits new high ahead of rights issue

The stock hit a record high of Rs 284 in intra-day, rallied 42% in past seven trading sessions

The stock hit a record high of Rs 284 in intra-day, rallied 42% in past seven trading sessions from Rs 200 on Jan 4 has moved higher to its record high of Rs 284, up 16% on the BSE in intra-day trade, ahead of the The stock will turn ex-right on Monday, January 16, 2017.

The auto parts & equipment maker has fixed January 17, 2017 as the record date for the purpose of

The board of directors of the company at their meeting held on January 4, approved in the ratio of 4:5 i.e. four rights equity shares for every five shares held on a record date at a price of Rs 88.75 per share including the premium of Rs 78.75 per share.

Since then, the stock outperformed the market by surging 42% from Rs 200 on January 4, as compared to 2.3% rise in the S&P BSE Sensex.

At 11:26 am; it was up 9% at Rs 267 against a marginal 0.04% decline in the benchmark index. Around 67,000 shares have already changed hands on the BSE so far against an average 14,000 shares that were traded daily in past two weeks.
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Business Standard
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IP Rings hits new high ahead of rights issue

The stock hit a record high of Rs 284 in intra-day, rallied 42% in past seven trading sessions

has moved higher to its record high of Rs 284, up 16% on the BSE in intra-day trade, ahead of the The stock will turn ex-right on Monday, January 16, 2017.

The auto parts & equipment maker has fixed January 17, 2017 as the record date for the purpose of

The board of directors of the company at their meeting held on January 4, approved in the ratio of 4:5 i.e. four rights equity shares for every five shares held on a record date at a price of Rs 88.75 per share including the premium of Rs 78.75 per share.

Since then, the stock outperformed the market by surging 42% from Rs 200 on January 4, as compared to 2.3% rise in the S&P BSE Sensex.

At 11:26 am; it was up 9% at Rs 267 against a marginal 0.04% decline in the benchmark index. Around 67,000 shares have already changed hands on the BSE so far against an average 14,000 shares that were traded daily in past two weeks.

image
Business Standard
177 22