 "Cement")
Udaipur Cement Works surged 9% to Rs 36.20, extending its Wednesday’s nearly 7% rally on BSE, after the company said it will raise around Rs 50 crore by issuing Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) on preferential basis to JK Lakshmi Cement, promoter of the company.
“The board of directors of the company is scheduled to meet on May 10, 2017 to consider issue of OCCRPS of up to Rs 50 crore on preferential basis to JK Lakshmi Cement, promoter of the company,” Udaipur Cement Works said in a BSE filing.
The board will also consider the unaudited financial results of the company for the fourth quarter and financial year ended March 31, 2017, it added.
At 12:50 pm; the stock was up 7.5% at Rs 35.70 as compared with 0.54% rise in the S&P BSE Sensex. It trading close to its 52-week high of Rs 37 touched on April 5, 2017. The trading volumes on the counter jumped more than two-fold with 1.64 million shares changed hands so far on the BSE.
JK Lakshmi Cement was up 2.3% at Rs 480, after hitting high of Rs 482 on BSE in intra-day trade.
“The board of directors of the company is scheduled to meet on May 10, 2017 to consider issue of OCCRPS of up to Rs 50 crore on preferential basis to JK Lakshmi Cement, promoter of the company,” Udaipur Cement Works said in a BSE filing.
The board will also consider the unaudited financial results of the company for the fourth quarter and financial year ended March 31, 2017, it added.
At 12:50 pm; the stock was up 7.5% at Rs 35.70 as compared with 0.54% rise in the S&P BSE Sensex. It trading close to its 52-week high of Rs 37 touched on April 5, 2017. The trading volumes on the counter jumped more than two-fold with 1.64 million shares changed hands so far on the BSE.
JK Lakshmi Cement was up 2.3% at Rs 480, after hitting high of Rs 482 on BSE in intra-day trade.
