Shares of Anil Ambani-led Reliance Broadcast Network today zoomed nearly 5 per cent on the Bombay Stock Exchange to hit its upper circuit limit, after the company said it will consider raising funds through preferential route.
The scrip jumped to Rs 110.50, reflecting an upmove of 4.98 per cent -- the maximum permissible one day gain on the Bombay Stock Exchange.
The stock witnessed a similar uptrend on the National Stock Exchange and soared 5 per cent to Rs 110.20.
The board of directors of the company would meet today to augment long-term resources, Reliance Broadcast Network had said in a filing to BSE yesterday.
The board would also discuss preferential allotment of equity shares and or other equity related securities to the promoters, it said.
Meanwhile, other ADAG firm Reliance Communications was up 2.60 per cent, the top gainer in the BSE-30 Sensex pack. However, Reliance Capital was down by 0.51 per cent and Reliance Infra by 0.11 per cent.
The broader market Sensex was in the green zone up by 137.22 points at 18,108.34 points.