RSWM share price dropped to a 52-week low of Rs 86.20, falling 3 percent, intraday on December 12 after India Ratings and Research downgraded the company's long-term issuer rating to 'IND A-' from 'IND A' and kept the outlook negative.
The rating agency, however, affirmed the short-term rating.
The company’s board in a meeting on December 11 approved the issuance of fully paid up equity shares of the yarn maker for up to an aggregate amount not exceeding Rs 1,500 million by way of rights issue.
At 1500 hours, RSWM was quoting at Rs 86.25, down Rs 2.60, or 2.93 percent.
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