Easun Reyrolle that provides products and services for the protection, control, metering and automation of power erased early gains. The stock gained as much as 5.2 percent in early trade to touch an intraday high of Rs 78.90 on Wednesday on fund raising plans.
Easun plans to raise Rs 100 crore to fund the future growth plans and the existing endeavors, to repay the existing debts (including those taken from the promoters) and to meet working capital and general corporate purpose.
At 11:06 hours IST, the stock fell 0.67 percent to Rs 74.50 on the Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 155.01 crore.
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