JSPL shares up over 3%; board to consider fund raising

Shares of Jindal Steel and Power Ltd today rose by over 3 per cent after it said that its board will consider raising funds through various modes on Thursday.
The stock ended the day with a gain of 3.09 per cent at Rs 120.05 on BSE. During the day it went up by 4.25 per cent to Rs 121.40.
On NSE, the stock gained 3.26 per cent to close at Rs 120.30.
The company's market valuation on BSE went up by Rs 330.87 crore to Rs 10,984.87 crore.
On the volume front, 13.52 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The company in a regulatory filing said yesterday that the meeting of board of directors is scheduled to be held on March 30, 2017, inter alia, "to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoter(s)/promoter group entity(ies)".
Naveen Jindal-led JSPL had earlier said that it is exploring various options, including divestment, to reduce its debt of around Rs 46,000 crore.