Hind Rectifiers rose 6.34% to Rs 96.50 at 9:34 IST on BSE after the company said that its board will meet on 15 January 2017 to consider rights issue of equity shares.
The announcement was made after market hours yesterday, 10 January 2017.Meanwhile, the S&P BSE Sensex was up 133.04 points or 0.49% at 27,032.60.
On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 6,459 shares in the past one quarter. The stock had hit a high of Rs 99.70 and a low of Rs 95.30 so far during the day.
The stock had hit a 52-week high of Rs 113.60 on 1 November 2016 and a 52-week low of Rs 58.10 on 29 February 2016.
The small-cap company has equity capital of Rs 3.01 crore. Face value per share is Rs 2.
Hind Rectifiers said that a meeting of the board of directors of the company is scheduled on 15 January 2017 to consider, in principle, the issue of equity shares on a right basis to the existing equity shareholders of the company.
Hind Rectifiers reported net loss of Rs 0.86 crore in Q2 September 2016, lower than net loss of Rs 2.05 crore in Q2 September 2015. Net sales rose 62% to Rs 28.57 crore in Q2 September 2016 over Q2 September 2015.
Hind Rectifiers is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipments and railway transportation equipments.
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