Astra Microwave jumps 7%; board to consider Rs 400-cr fund-raise on Friday

In the past three months, the stock of the aerospace & defence company has underperformed the market by falling 2 per cent, as compared to a 6 per cent rise in the S&P BSE Sensex

Shares of Astra Microwave Products moved 7 per cent higher to Rs 326.70 on the BSE in Tuesday’s intra-day trade after the company announced that its board will meet on Friday, December 9, to consider a fund raise of up to Rs 400 crore.

“A meeting of the board of directors of the company is scheduled to be held on December 9, 2022 to inter alia consider and approve the matter related to raising funds by way of issuance of any instrument or securities, including equity shares, fully / partly convertible debentures, global depository receipts, American depository receipts, foreign