Kesoram Industries has surged over 18% to Rs 114, extending its past three days rally on back of heavy volumes on the Bombay Stock Exchange (BSE).
The stock of B.K Birla group diversified company has rallied 48% from Rs 77 in past four trading sessions compared to 1.8% rise in benchmark Sensex.
The cement and tyre maker is planning to raise around Rs 500 crore by issuing equity shares on rights basis to repay its debt and for working capital purpose.
The market regulator Sebi (Securities and Exchange Board of India), has already given green signal to the said rights issue on March 21, 2013.
The company got board approval August last year, said it has appointed SBI Capital Markets Limited and Religare Capital Markets Limited as the lead managers to the rights issue.
The stock today opened at Rs 97 and has seen over six-fold jump in trading volumes. A combined 1.21 million shares have already changed hands till 1115 hours against an average around 220,000 shares that were traded daily in past two weeks on BSE and NSE.
The stock of B.K Birla group diversified company has rallied 48% from Rs 77 in past four trading sessions compared to 1.8% rise in benchmark Sensex.
The cement and tyre maker is planning to raise around Rs 500 crore by issuing equity shares on rights basis to repay its debt and for working capital purpose.
The market regulator Sebi (Securities and Exchange Board of India), has already given green signal to the said rights issue on March 21, 2013.
The company got board approval August last year, said it has appointed SBI Capital Markets Limited and Religare Capital Markets Limited as the lead managers to the rights issue.
The stock today opened at Rs 97 and has seen over six-fold jump in trading volumes. A combined 1.21 million shares have already changed hands till 1115 hours against an average around 220,000 shares that were traded daily in past two weeks on BSE and NSE.
