 "Adani Ports surges on heavy volumes")
Adani Ports and Special Economic Zone (SEZ) has moved higher by 5% to Rs 286 on BSE after the company announced a fund raising plan by issuing non-convertible debentures on private placement basis.
“The board of directors of the company will meet on Tuesday, October 25, 2016 to consider issuing Non-Convertible Debentures (NCDs) on private placement basis in one or more tranches within the limits approved by shareholders at the Annual General Meeting held on August 09, 2016,” Adani Ports said in a statement.
Earlier, on October 14, the company informed the exchange that at the said board meeting, board will consider and approve the unaudited financial results for the quarter and half year ended September 30, 2016 (Q2).
At 03:13 pm, the stock was up 5% at Rs 285 on BSE, as compared to 0.52% rise in S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 12.3 million shares changed hands on BSE and NSE so far.
“The board of directors of the company will meet on Tuesday, October 25, 2016 to consider issuing Non-Convertible Debentures (NCDs) on private placement basis in one or more tranches within the limits approved by shareholders at the Annual General Meeting held on August 09, 2016,” Adani Ports said in a statement.
Earlier, on October 14, the company informed the exchange that at the said board meeting, board will consider and approve the unaudited financial results for the quarter and half year ended September 30, 2016 (Q2).
At 03:13 pm, the stock was up 5% at Rs 285 on BSE, as compared to 0.52% rise in S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 12.3 million shares changed hands on BSE and NSE so far.
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