RSWM share price locked at 20 percent upper circuit on February 13 after the company turned profitable in the quarter ended December 2019.
The company posted a consolidated net profit of Rs 0.86 crore in Q3FY20 against loss of Rs 29.92 crore in a year ago period.
Revenue of the company has increased by 10 percent at Rs 761 crore against Rs 689.44 crore, YoY.
The company board in its meeting held on February 12 reviewed the proposal of fundraising by way of rights issue and in view of easing of the cash flow situation of the company and raising of debt funds through alternative arrangement at favourable rates, have decided to withdraw the said proposal.
At 15:11 hrs RSWM was quoting at Rs 108.45, up Rs 18.05, or 19.97 percent on the BSE.
There were pending buy orders of 11,589 shares, with no sellers available.
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