 "Bombay Burmah Trading hits new high as board approves fund raising plan")
Bombay Burmah Trading Corporation has hit a new high of Rs 673, up 10% on BSE in intra-day trade, after the company said its board approved fund raising plan up to Rs 250 crore.
“The board approved the proposal for raising funds up to Rs 250 crore through issue of commercial paper/secured, redeemable, non-convertible debentures (NCDs),” Bombay Burmah Trading Corporation said in a statement.
Bombay Burmah Trading Corporation is a leading concern of the Wadia Group, a reputed Indian business house with interests in plantations, foods, textiles, chemicals, electronics and light engineering, health care and real estate. Bombay Burmah, Bombay Dyeing and Britannia are the mastheads of the Wadia Group.
In past two-months, post April-June quarter (Q1FY17) results, the stock outperform the market by surging 66% from Rs 405 on August 5, as compared to 1% rise in the S&P BSE Sensex.
At 10:42 am, the stock was up 8% at Rs 661 on the BSE, against 0.24% fall in the benchmark index. The trading volumes on the counter more than doubled with a combined 1.08 million shares changed hands on the NSE and BSE so far.
“The board approved the proposal for raising funds up to Rs 250 crore through issue of commercial paper/secured, redeemable, non-convertible debentures (NCDs),” Bombay Burmah Trading Corporation said in a statement.
Bombay Burmah Trading Corporation is a leading concern of the Wadia Group, a reputed Indian business house with interests in plantations, foods, textiles, chemicals, electronics and light engineering, health care and real estate. Bombay Burmah, Bombay Dyeing and Britannia are the mastheads of the Wadia Group.
In past two-months, post April-June quarter (Q1FY17) results, the stock outperform the market by surging 66% from Rs 405 on August 5, as compared to 1% rise in the S&P BSE Sensex.
At 10:42 am, the stock was up 8% at Rs 661 on the BSE, against 0.24% fall in the benchmark index. The trading volumes on the counter more than doubled with a combined 1.08 million shares changed hands on the NSE and BSE so far.