Sical Logistics surges 14% on fund raising plan through preferential issue

The board of directors of the company will be meet on September 7, 2018, to consider raising funds through issue of equity shares on a preferential basis.

Shares of Sical Logistics surged 14% to Rs 191 on the BSE on back of heavy volumes after the company announced fund raising plan through preferential issue.

“A meeting of the board of directors of the company will be held on September 7, 2018, to consider raising funds through issue of equity shares on a preferential basis, subject to the approval from shareholders and regulatory approvals,” Sical Logistics said in a statement.

Sical Logistics is primarily engaged in providing integrated logistics services. The company had posted 71% year on year (YoY) declined in its consolidated net profit at