Country Club Hospitality & Holidays jumped 5.69% to Rs 15.79 at 10:00 IST on BSE after the company said that its board of directors approved the proposal to raise funds by issue of equity shares and or convertible instruments.
The announcement was made before market hours today, 14 December 2017.Meanwhile, the S&P BSE Sensex was up 31.76 points, or 0.1% to 33,084.80. The S&P BSE Small-Cap index was up 6.03 points, or 0.03% to 17,987.88, underperforming the Sensex.
High volumes were witnessed on the counter. On the BSE, 2.06 lakh shares were traded in the counter so far, compared with average daily volumes of 87,027 shares in the past one quarter. The stock had hit a high of Rs 16.30 and a low of Rs 14.95 so far during the day. The stock hit a 52-week high of Rs 17.20 on 2 May 2017. The stock had hit a 52-week low of Rs 11.68 on 30 March 2017.
The stock had outperformed the market over the past one month till 13 December 2017, rising 8.18% compared with 0.06% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.61% as against Sensex's 2.69% rise. The scrip had, however, underperformed the market in past one year, rising 13.87% as against Sensex's 23.8% rise.
The small-cap company has equity capital of Rs 32.69 crore. Face value per share is Rs 2.
Country Club Hospitality & Holidays said that the board of directors of the company at a meeting held yesterday, 13 December 2017, approved the proposal for further issue of 4 crore equity shares and or convertible instruments by way of qualified institutional placement.
The board also approved the proposal for further issue of such number of equity shares and or warrants such that the aggregate amount does not exceed Rs 15 crore on preferential basis to the promoters of the company.
Country Club Hospitality & Holidays reported net loss of Rs 7.57 crore in Q2 September 2017 compared with net loss of Rs 5.87 crore in Q2 September 2016. Net sales fell 5.4% to Rs 56.56 crore in Q2 September 2017 over Q2 September 2016.
Country Club Hospitality & Holidays offers leisure hospitality membership services in India.
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