Indo Rama Synthetics (India) gained 2.33% to Rs 39.60 at 12:36 IST on BSE after the company said that its board of directors will consider issuance of secured redeemable non-convertible debentures to the investors.
The announcement was made on Saturday, 3 February 2018.Meanwhile, the S&P BSE Sensex was down 231.83 points, or 0.66%, to 34,834.92. The S&P BSE Small-Cap index was down 89.43 points, or 0.5%, to 17,758.10, outperforming the Sensex.
On the BSE, 19,280 shares were traded in the counter so far as against average daily volume of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 40 and a low of Rs 35.50 so far during the day. The stock had hit a 52-week high of Rs 57.50 on 15 January 2018. The stock had hit a 52-week low of Rs 26.20 on 22 August 2017.
The stock had underperformed the market over the past 30 days till 2 February 2018, falling 8.94% compared with 3.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 17.45% as against Sensex's 4.45% rise. The scrip had, however, underperformed the market in past one year, rising 17.27% as against Sensex's 24.23% rise.
The small-cap company has an equity capital of Rs 151.82 crore. Face value per share is Rs 10.
The company said that its board of directors in a meet scheduled on 7 February 2018, will consider issuance of secured, redeemable, non-convertible debentures (NCDs) to the investors other than promoters by way of preferential issue on private placement basis.
The board will also consider issuance of secured, compulsorily convertible debentures (CCDs) to the investors other than promoters by way of a preferential issue on private placement basis.
Also Read
The company will announce its Q3 results on 7 February 2018. Indo Rama Synthetics (India) reported net loss of Rs 17.62 crore in Q2 September 2017 compared with net loss of Rs 14.69 crore in Q2 September 2016. Net sales fell 11.6% to Rs 618.01 crore in Q2 September 2017 over Q2 September 2016.
Indo Rama Synthetics (India) is India's largest dedicated polyester manufacturer with an integrated manufacturing complex in Butibori near Nagpur in Maharashtra, of polyester staple fiber, filament yarn, draw texturized yarn, fully drawn yarn and textile grade chips.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content