JBF Industries rose 1.35% to Rs 251.70 at 9:45 IST on BSE after the company said its board approved allotment of 1.64 crore shares to Singapore-based global private equity investor KKR Jupiter Investors at Rs 300 each on preferential basis.
The announcement was made after market hours yesterday, 28 December 2015.
Meanwhile, the BSE Sensex was up 50.15 points, or 0.19%, to 26,084.28.
On BSE, so far 45,000 shares were traded in the counter, compared with an average volume of 72,162 shares in the past one quarter.
The stock hit a high of Rs 255 and a low of Rs 251.20 so far during the day. The stock hit a record high of Rs 318.40 on 31 July 2015. The stock hit a 52-week low of Rs 185.10 on 25 August 2015.
The stock had outperformed the market over the past one month till 28 December 2015, rising 6.20% compared with 0.36% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.32% as against Sensex's 1.63% rise.
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The small-cap company has an equity capital of Rs 65.50 crore. Face value per share is Rs 10.
JBF Industries' board of directors at a meeting held yesterday, 28 December 2015, passed a resolution to issue and allot 1.63 crore fully paid-up equity shares of the company on preferential allotment basis to KKR Jupiter Investors Pte Ltd., Singapore, at an issue price of Rs 300 per share.
On consolidated basis, JBF Industries reported net loss of Rs 0.55 crore in Q2 September 2015 compared with net profit of Rs 35.53 crore in Q2 September 2014. Net sales declined 5% to Rs 2130.49 crore in Q2 September 2015 over Q2 September 2014.
JBF Industries produces polyester chips for textiles, films and bottles, and polyester partially oriented yarns.
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