Pratibha Inds gains as board mulls preferential allotment

Pratibha Industries rose 1.54% to Rs 15.18 at 9:32 IST on BSE after the company scheduled a board meeting on 7 January 2017, to consider the issue and allotment of shares on preferential basis to the lenders of the company.

The announcement was made before market hours today, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 162.70 points or 0.61% at 26,795.83.

On the BSE, 2.93 lakh shares were traded on the counter so far as against the average daily volumes of 2.23 lakh shares in the past two weeks. The stock had hit a high of Rs 15.75 and a low of Rs 14.80 so far during the day.

The stock had hit a 52-week high of Rs 48.95 on 6 January 2016 and a 52-week low of Rs 9.85 on 24 November 2016.

The small-cap company has equity capital of Rs 20.21 crore. Face value per share is Rs 2.

Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 7 January 2017, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company, who have not subscribed the shares till 4 January 2017 under strategic debt restructuring (SDR) scheme.

On a consolidated basis, Pratibha Industries reported net loss of Rs 71.36 crore in Q2 September 2016 as against net profit of Rs 11.71 crore in Q2 September 2015. Net sales declined 62.1% to Rs 328.32 crore in Q2 September 2016 over Q2 September 2015.

Pratibha Industries is engaged in the business of integrated infrastructure solutions.

Powered by Capital Market - Live News