Sandur Manganese turns ex-date for rights issue; stock zooms 50% in 7 days

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.

Shares of Sandur Manganese and Iron Ore inched higher up to 18 per cent to Rs 1,232 (adjusted to rights issue) on the BSE in Tuesday’s intra-day trade, after the stock was ex-right in the ratio of 2:1. In the past seven trading days, the stock has zoomed 50 per cent from level of Rs 824 on July 15, 2022. Earlier, it had hit a 52-week high of Rs 1,700.13 on April 12, 2022.

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on