Emco rose 2.25% to Rs 38.70 at 10:56 IST on BSE after the company said its board approved the proposal to seek shareholders' nod for private placement offer/preferential issue of equity shares of the company to promoter group.
The announcement was made after market hours on Friday, 19 December 2014.
Meanwhile, the S&P BSE Sensex was up 50.25 points or 0.18% at 27,422.09.
On BSE, so far 51,000 shares were traded in the counter as against average daily volume of 68,000 shares in the past two weeks.
The stock hit a high of Rs 39.80 and a low of Rs 38.20 so far during the day.
EMCO's net profit declined 72.5% to Rs 1.10 crore on 12.7% growth in net sales to Rs 208.26 crore in Q2 September 2014 over Q2 September 2013.
EMCO is one of India's leading products and solutions provider for power generation, transmission, distribution utilities and industry.
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