IL&FS Engineering and Construction Company has soared 9% to Rs 34, extending its previous day’s rally on BSE, after the company announced the rights issue plan to the existing shareholders. The stock has surged almost 20% in past two trading days from Rs 28.45 on October 4.
The board of directors of the company will be held on October 09, 2013, to consider the issue of equity shares to the existing equity shareholders on rights basis, IL&FS Engineering and Construction Company said in a statement.
As on June 30, the promoters held nearly 30% stake in the construction and engineering company. Domestic institutional investors held 17.26% holdings, while the remaining 52.92% stakes are with the others include SBG Projects Investments Limited and SNR Investments Pvt Ltd.
The stock opened at Rs 34 and touched high of Rs 34.35 on the BSE. A combined 56,000 shares change hands on the counter till 1025 hours on the BSE and NSE.
The board of directors of the company will be held on October 09, 2013, to consider the issue of equity shares to the existing equity shareholders on rights basis, IL&FS Engineering and Construction Company said in a statement.
As on June 30, the promoters held nearly 30% stake in the construction and engineering company. Domestic institutional investors held 17.26% holdings, while the remaining 52.92% stakes are with the others include SBG Projects Investments Limited and SNR Investments Pvt Ltd.
The stock opened at Rs 34 and touched high of Rs 34.35 on the BSE. A combined 56,000 shares change hands on the counter till 1025 hours on the BSE and NSE.
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