Shree Ganesh Jewellery House has surged 5% to Rs 79.45 after the company said it is planning to issue equity shares to non-promoters including foreign investors on preferential basis.
The stock opened at Rs 77 and hit a high of Rs 80 on BSE. A combined 73,737 shares have changed hands on the counter till 1040 hours on BSE and NSE.
In a regulatory filing, the company said that its board will meet on June 27, to consider the issue of equity shares on preferential basis to non promoter(s)/foreign investors.
The proposal will be subject to approval of shareholders, it added.
Meanwhile, the stock has underperformed the market by falling 30% in past one month till yesterday, compared to 5.5% fall in benchmark Sensex.
The stock opened at Rs 77 and hit a high of Rs 80 on BSE. A combined 73,737 shares have changed hands on the counter till 1040 hours on BSE and NSE.
In a regulatory filing, the company said that its board will meet on June 27, to consider the issue of equity shares on preferential basis to non promoter(s)/foreign investors.
The proposal will be subject to approval of shareholders, it added.
Meanwhile, the stock has underperformed the market by falling 30% in past one month till yesterday, compared to 5.5% fall in benchmark Sensex.
