Adani Ports and Special Economic Zone rose 1.37% to Rs 354 at 9:40 IST on BSE after the company said that meeting of the company's board of directors will be held on 24 May 2017 to consider raising of funds.
The announcement was made on Saturday, 20 May 2017.The S&P BSE Sensex gained 168.73 points or 0.55% to 30,633.65.
On the BSE, 37,179 shares were traded in the counter so far, compared with average daily volumes of 3.63 lakh shares in the past one quarter. The stock had hit a high of Rs 357 and a low of Rs 350.30 so far during the day.
The stock had hit a 52-week high of Rs 361.60 on 11 May 2017. The stock had hit a 52-week low of Rs 170.15 on 19 May 2016. The stock had outperformed the market over the past one month till 19 May 2017, rising 7.22% compared with the 3.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.32% as against Sensex's 7.01% rise.
The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.
Adani Ports and Special Economic Zone (APSEZ) announced that meeting of the board of directors of the company will be held on 24 May 2017 to consider raising of funds by issue of equity shares/convertible bonds through qualified institutional placement (QIP)/global depository receipts/American depository receipts/foreign currency convertible bonds/FCEBs/convertible securities.
The board will also consider issue of secured/ unsecured redeemable non-convertible debentures on private placement basis.
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Further, the board will also consider issue of bonds which may be issued in one or more tranches, in India or overseas, and that may be listed in any one or more stock exchanges in India or overseas, provided that the total amount does not exceed $1.5 billion on private placement basis or otherwise, to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the bonds under applicable laws.
The board will consider Q4 results along with final dividend if any on that day.
Adani Ports and Special Economic Zone (APSEZ)'s consolidated net profit rose 25.8% to Rs 849.75 crore on 31.6% rise in net sales to Rs 2226.62 crore in Q3 December 2016 over Q3 December 2015.
Adani Ports and Special Economic Zone owns and operates ports and terminals in India.
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