SPML Infra spurted 9.03% to Rs 92.95 at 9:22 IST on BSE after the company said its board approved raising funds through qualified institutional placement route for an amount to the extent of Rs 100 crore.
The announcement was made after market hours on Thursday, 18 September 2014.
Meanwhile, the S&P BSE Sensex was up 57.93 points or 0.21% at 27,170.14.
On BSE, so far 3,799 shares were traded in the counter as against average daily volume of 14,000 shares in the past two weeks.
The stock hit a high of Rs 92.95 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 88.60 so far during the day.
SPML Infra's board of directors at its meeting held on Thursday, 18 September 2014, also approved the proposal to sell investments in the hydro power and road assets.
SPML Infra reported a net profit of Rs 0.93 crore in Q1 June 2014 as against net loss of Rs 20.32 crore in Q1 June 2013. Net sales rose 32.2% to Rs 271.27 crore in Q1 June 2014 over Q1 June 2013.
SPML Infra is an infrastructure development company implementing projects in water supply and management, wastewater treatment and reuse, sewer-line rehabilitation and power (RE) development, transmission and distribution in India.
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