Sharda Cropchem advances on fund raising plan

Sharda Cropchem rose 2.95% to Rs 397.40 at 10:53 IST on BSE after the company scheduled a board meeting on 25 June 2018 to consider fund raising.

The announcement was made after market hours yesterday, 19 June 2018.

Meanwhile, the S&P BSE Sensex was up 134.74 points or 0.38% at 35,421.48.

On the BSE, 3,971 shares were traded on the counter so far as against the average daily volumes of 77,000 shares in the past two weeks. The stock had hit a high of Rs 402 and a low of Rs 388.50 so far during the day. The stock had hit a 52-week high of Rs 510.40 on 3 July 2017. The stock had hit a 52-week low of Rs 360 on 23 March 2018.

The mid-cap company has equity capital of Rs 90.22 crore. Face value per share is Rs 10.

A meeting of the board of directors of Sharda Cropchem is scheduled to be held on 25 June 2018 to further consider fund raising by way of issuance of equity shares or equity linked securities such as warrants, convertible securities, global depository receipt or American depository receipts or foreign currency convertible bonds including but not limited to through preferential issue and / or qualified institutions placement or through any other permissible mode and / or combination thereof.

Sharda Cropchem's consolidated net profit rose 14.76% to Rs 113.25 crore on 28.46% growth in total income to Rs 766.21 crore in Q4 March 2018 over Q4 March 2017.

Sharda Cropchem is a global crop protection chemical company largely operating across Europe, NAFTA and Latin America across fungicides, herbicides and insecticides.

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