Sundaram-Clayton advanced 1.92% to Rs 1,569.05 after the company's board approved to raise funds not exceeding Rs 400 crore in one or more tranhces.
The company's board has approved to raise funds in one or more tranches by way of issuance of such number of equity shares having face value of Rs 5 each or any other eligible securities or any combination thereof for an aggregate amount not exceeding Rs 400 crore by way of a preferential issue, further public offer or qualified institutions placement (QIP) or other permissible mode or through a combination thereof, in one or more tranches.Sundaram-Clayton is a leading manufacturer of aluminium die-casting components. It supplies to major automotive OEMs including TVS Motor, the Cummins group, the Volvo group, Hyundai Motor India, the Daimler group, and to component suppliers such as Wabco India and the Visteon group.
The company reported consolidated net loss of Rs 47.34 crore in Q4 FY24 as compared to net loss of Rs 62.90 crore recorded in Q3 FY24. Revenue from operations shed 1.68% QoQ to Rs 554.80 crore in Q4 FY24.
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