Birla Tyres hits 5% upper circuit as Co to consider fundraising this week

Shares of Birla Tyres hit a 5 per cent upper circuit band of Rs 23.35 apiece on the BSE on Wednesday after the company said its board will meet later this week to consider raising up to Rs 1,100 crore.

The company's board will meet on August 28 (Friday) to consider capital raising options for an amount aggregating up to Rs 1,100 crore by way of equity or debt instruments, including non-convertible debentures, among others, Birla Tyres said. READ MORE

The Kolkata-based firm, which caters to two-wheelers, three-wheelers and commercial vehicles, however, did not share reasons for raising capital.

Birla Tyres