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Vardhman Special Steels spurts on plans of rights issue

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Vardhman Special Steels jumped 8.14% to Rs 88.35 at 15:10 on after the company said that a meeting of the company's board of directors will be held on 12 November 2016, to consider rights issue.

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P Sensex was up 27.05 points or 0.1% at 27,671.53.

On BSE, so far 2,531 shares were traded in the counter as against average daily volume of 3,054 shares in the past one quarter. The stock hit a high of Rs 88.35 and a low of Rs 79.50 so far during the day.

The small-cap company has equity capital of Rs 18.56 crore. Face value per share is Rs 10.

Vardhman Special Steels said that the board of directors will also consider company's Q2 results on that day.

Vardhman Special Steels is a producer of special and alloy steels, catering to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 15:09 IST