Kwality gains on plans to raise funds via term loan, NCDs

The board will meet on June 24 to discuss fund raising plans via term loan, NCDs upto Rs 300 crore

Shares of Kwality were up nearly 2% at Rs 111 on the Bombay Stock Exchange after the company plans to raise funds.

The company's board of directors will meet on June 24, 2016, inter alia, to raise funds by way of term loan and issue of non-convertible debenttures (NCDs) for an amount not exceeding Rs 300 crore.

The stock opened at Rs 110 and touched a high of Rs 112. At 12:30pm, over 380,000 shares were traded on both the stock exchanges.