The company announced the divestment of the energy division of its subsidiary in France.

The Centum Adetel Group (CAG) will sell its energy unit for a total consideration of 9.8 million Euros to Chauntie Electric (Tianjin), according to the company's exchange filing.

65% of the total consideration has already been received by the subsidiary while the balance payment will be made after a transition period of two years.

Shares gained as much as 12.2% - the most in two months to Rs 393.25 - the highest level in over six months. The stock has snapped a three-day losing streak.

• Benchmark indices remain in a narrow range
• Nifty up 0.4% at 11,434
• Sensex up 0.5% at 38,705
• Nifty Bank up 0.8% at 22,348
• Nifty Midcap Index up 0.8%
• Nifty Smallcap Index up 1.3%
• India Volatility Index down 1.3% to 20
• Nifty PSU Bank and Nifty Media remain the top sectoral gainers; up nearly 2.5% each
• Nifty Realty is the other major sectoral gainer; up 1.4%
• Nifty Metal, Nifty I.T. give up gains to trade flat
• GAIL remains the top Nifty gainer; up 4%
• Tata Steel is the top Nifty laggard; down 0.9%
• 1,224 stocks on the NSE trade with gains while 534 decline

• Trades at an all-time high
• Among top performers on the Nifty 500 index
• Gains as much as 7.5% to Rs 5,675
• Biggest single-day gain in five months
• Up for the third straight day
• Today's volumes are 54% below its 20-day average
• Stock trades in overbought territory with Relative Strength Index (RSI) at 73
• Has nearly doubled from its 52-week low of Rs 2,923 on March 25, 2020
• Five out of the nine analysts tracking the stock have a buy recommendation; 2 sell calls
• The stock trades 3.7% higher than its 12-month consensus price target of Rs 5,274, implying a negative return potential

The company will hold a board meeting on Friday, August 21 to consider and approve raising funds.

The fund raising can be done by way of issuance of any instrument or security including equity shares, fully or partly convertible debentures, foreign currency convertible bonds, warrants or any other combination thereof, the company said in its exchange filing.

The fund raising can be done in one or more tranches by way of a public issue, preferential allotment, private placement or any other method thereof.

Shares gained as much as 2.7% to Rs 8,095 and are up for the second straight day.