Futura Polyesters hits 20 per cent upper circuit

DALAL STREET SPIKES

Futura Polyesters, which hit the 20 per cent upper circuit, closed at Rs 11 on Monday, with volumes of 339,518 shares vis-à-vis its two-week average of volume of 79,954 shares. After the market hours, the company proposed a rights issue for strengthening its operations by developing the 115 acres available within its factory premises.

The required approvals from appropriate authorities is awaited. The stock touched an intraday low of Rs 8.67, which is also its new 52-week low. The scrip had hit a 52-week high of Rs 46.35 on January 2.