Nitin Fire Protection surges on fund plans

Nitin Fire Protection rose 3.84 per cent to close at Rs 312.45 on announcement of its fund-raising plans. The board today approved plans to issue capital of up to $50 million through sources such as QIP. The stock opened at Rs 304.9 and hit an intraday high of Rs 318 and a low of Rs 295.

The scrip made a 52-week high of Rs 465 (June 4, 2008) and a low of Rs 115 (March 9, 2009). The scrip has delivered 55 per cent returns in the last one month.