Easun Reyrolle gains as rights issue price set at discount to ruling market price
Easun Reyrolle rose 3.19% to Rs 68 at 13:13 IST on BSE after the company said its board has decided for the rights issue of equity shares in the ratio of 12:25 at an offer price of Rs 59 per share which is at a discount to ruling market price.
The announcement was made after market hours on Wednesday, 5 March 2014.
Meanwhile, the S&P BSE Sensex was up 119.16 points or 0.56% at 21,396.02.
On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 13,289 shares in the past one quarter.
The stock hit a high of Rs 68.65 and a low of Rs 65.20 so far during the day.
The rights issue offer price of Rs 59 per share is a discount of 13.23% to the ruling market price.
Easun Reyrolle reported a net loss of Rs 5.09 crore in Q3 December 2013 as against net profit of Rs 1.03 crore in Q3 December 2012. Net sales declined 40.8% to Rs 53.20 crore in Q3 December 2013 over Q3 December 2012.
Easun Reyrolle offers products, system, solutions and services in power generation, transmission, distribution and utility segments.
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