IND Renewable Energy Ltd jumped 5 percent in the morning trade on June 15, a day after the company’s board approved raising Rs 26 crore through a rights issue.
At 10:45 am the IND Renewable Energy stock was trading 4.79 percent higher at Rs 15.32 on NSE.
“We wish to inform you that the board of directors of the company at their meeting held today i.e., June 14, 2023, have, in principle, considered and approved the proposal to raise the fund up to Rs 26,00,00,000 by way of right issue. The terms of the issue will be decided by the board later,” the company told the exchanges on June 14.
Follow our live blog for all market action
The company had in March said that the board had approved a proposal to raise Rs 15 crore.
Stock performance
IND Renewable Energy Ltd has given a return of 25.06 percent over the last six months, outperforming the benchmark Nifty, which has gained 2.05 percent during the period.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
