IL&FS Engineering rallies on fund raising plans

The board will meet on November 28, 2014 to consider additional fund raising options for the company,

Shares of construction and engineering company IL&FS Engineering and Construction Company have rallied 12% to Rs 68.50 on BSE after the company announced the fund raising plans.

"The board of directors of the company will meet on November 28, 2014 to consider additional fund raising options for the company", IL&FS Engineering said in a statement.

The stock opened at Rs 62.25 and hit a high of Rs 72 on BSE. The trading volumes on the counter more than doubled with a combined 240,776 shares changed hands in first 15 minutes of trade on BSE and NSE.