Sandur Manganese zooms 20% as board approves rights issue, capex plan

In the past three months, the stock of Sandur Manganese has zoomed 86 per cent as compared to 3 per cent decline in the S&P BSE Sensex. In the past one year, the counter has rallied 256 per cent

Shares of Sandur Manganese & Iron Ore hit the upper circuit of 20 per cent at Rs 4,522.80, also its 52-week high on the BSE on Monday, after the company said its board has approved Rs 18 crore rights issue and a capex plan of Rs 900 - Rs 950 crore.

The trading volumes on the counter jumped over five-fold with 86,000 equity shares changing hands on the BSE, as against an average of less than 20,000 shares that were traded in past two weeks. There were pending buys orders for 15,648 shares at 10:55 am; the exchange data