Bhagiradha Chemicals zooms 41% in two days on fund raising plan

The stock locked in upper circuit for the second straight day, up 20% at Rs 291, also its lifetime high on BSE.

Bhagiradha Chemicals & Industries has locked in upper circuit for the second straight day, up 20% at Rs 291 on BSE ahead of its board meeting on Friday, September 22, to discuss plans to raise funds.

“A meeting of the board of directors of the company will be held on September 22, 2017 to consider and approve, raising of funds by way of issue of convertible warrants and equity shares on preferential basis,” Bhagiradha Chemicals & Industries said in a BSE filing.

The stock of agrochemicals Company is trading at its lifetime high. It has zoomed 41% in past two trading from Rs 207 on Tuesday.

The trading volumes on the counter jumped more than five-fold with around 169,000 shares changed hands till 03:00 PM. There were pending buy orders for 16,875 shares, the BSE data shows.