The company's board meeting is scheduled to be held on March 9, to consider and approve raising of funds.
Shares of Bharat Wire Ropes gained 4 percent in the early trade Tuesday as company will consider fund raising plan on March 9.
The company's board meeting is scheduled to be held on March 9, to consider and approve raising of funds by way of issue of securities including but not limited to equity shares and/or american depository receipts (ADR) and/ or global depository receipts (GDR) and/or any other securities convertible into equity shares and/or non-convertible debentures with or without warrants, through further public offer (FPO)/ qualified institutions placement (QIP)/ preferential issue (PI)/ right issue (RI) or through, any other permissible mode or a combination thereof, as may be permitted under applicable laws, subject to approval of the members of the company, if required and other appropriate approvals.
For prevention of insider trading the closure of trading window for dealing in securities of the company shall commence on March 6 and will end on March 13, 2018.
At 09:16 hrs Bharat Wire Ropes was quoting at Rs 122, up Rs 3.10, or 2.61 percent on the BSE.
The share touched its 52-week high Rs 166 and 52-week low Rs 73.50 on 11 January, 2018 and 07 June, 2017, respectively.
Currently, it is trading 24.37 percent below its 52-week high and 70.82 percent above its 52-week low.
Posted by Rakesh Patil
