AGC Networks hits new high; stock zooms 269% in six months

The company, on March 22, said it has raised Rs 225 crore through issuance of convertible warrants to promoters and promoter group of the company

Shares of AGC Networks, a part of Essar Group, continued their northward move, and were locked in 5 per cent upper circuit at a record high of Rs 1,282.25 on the BSE on Wednesday in an otherwise weak market. In comparison, the S&P BSE Sensex was down 0.83 per cent at 49,721 points, at 10:02 am.

In the past two weeks, the stock of the IT consulting & software company has rallied 26 per cent, after the company on March 22 said it has raised Rs 225 crore through issuance of convertible warrants to promoters and promoter group of