 "Somany Ceramics dips after fixing floor price for QIP")
Somany Ceramics has dropped 8% to Rs 361 on the National Stock Exchange (NSE) in early morning trade after the company set the floor price of Rs 357.24 per share for its qualified institutional placement (QIP) issue.
The company planning to raise upto Rs 150 crore through QIP, which opened on December 17, 2015, Somany Ceramics, said in a regulatory filing.
On Thursday, the stock had rallied 17% from Rs 335 to Rs 393.
Somany Ceramics is engaged in ceramic tiles and allied products business.
At 09:51 am, the stock was down 5.5% at Rs 371 on the NSE. A combined 78,626 shares have changed hands on the counter on the BSE and NSE.
The company planning to raise upto Rs 150 crore through QIP, which opened on December 17, 2015, Somany Ceramics, said in a regulatory filing.
On Thursday, the stock had rallied 17% from Rs 335 to Rs 393.
Somany Ceramics is engaged in ceramic tiles and allied products business.
At 09:51 am, the stock was down 5.5% at Rs 371 on the NSE. A combined 78,626 shares have changed hands on the counter on the BSE and NSE.