ABB India shares close 2.5% higher on fund raising plans

Shares of ABB India rose by 2.5 per cent today as the company's board has given approval to raise Rs 600 crore through non-convertible debentures (NCDs) on private placement basis.
The stock ended 2.31 per cent up at Rs 1,394 on the BSE.
During the day, it gained 2.75 per cent to Rs 1,400.
At the NSE, shares of the company settled 2.5 per cent higher at Rs 1,395.45.
"The Board of Directors of the company at its meeting held on July 2, 2015, approved the proposal to raise money to the extent of Rs 600 crore by way of issuance of unsecured listed redeemable non-convertible debentures on private placement basis to investors," the company had said in a regulatory filing yesterday.

It said the issuance would be subject to approval of the shareholders by way of a special resolution through postal ballot.
ABB is a global company engaged in power and automation technologies.
In the broader market, the BSE Sensex ended 146.99 points up at 28,092.79.