Filatex India rose 4.76% to Rs 55 at 10:57 IST on BSE after the company's board approved raising of funds upto Rs 150 crore through various modes.
The announcement was made on Saturday, 25 August 2018.Meanwhile, the S&P BSE Sensex was up 343.51 points, or 0.9% to 38,595.31
On the BSE, 1.07 lakh shares were traded in the counter so far compared with average daily volumes of 5.97 lakh shares in the past two weeks. The stock had hit a high of Rs 55.25 and a low of Rs 53.50 so far during the day.
Filatex India said that the board of directors of the company at its meeting held on 25 August 2018 has considered and approved raising of funds upto an amount of Rs 150 crore by way of issue of equity shares, American Depository Receipts, Global Depository Receipts, convertible bonds / securities through qualified institutional placement/ others.
Net profit of Filatex India rose 40.54% to Rs 20.14 crore on 63.68% rise in net sales to Rs 704.43 crore in Q1 June 2018 over Q1 June 2017.
Filatex India is in the business of manufacturing Polyester, nylon and Polypropylene Monofilament yarns and Polyester and Polypropylene Multifilament Yarns.
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