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Rishabhdev Technocable soars on plan to sell surplus land, building at Silvassa

Rishabhdev Technocable Ltd. | Trading | Miscellaneous | BSE: 533083 | NSE:

22 Oct 2014 Evaluate

Rishabhdev Technocable is currently trading at Rs. 3.16, up by 0.12 points or 3.95% from its previous closing of Rs. 3.04 on the BSE.

The scrip opened at Rs. 3.00 and has touched a high and low of Rs. 3.16 and Rs. 3.00 respectively. So far 101 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 5.98 on 16-Sep-2014 and a 52 week low of Rs. 1.01 on 11-Nov-2013.

Last one week high and low of the scrip stood at Rs. 3.60 and Rs. 3.04 respectively. The current market cap of the company is Rs. 8.01 crore.

The promoters holding in the company stood at 14.86% while Non-Institutions held 85.14% stake in the company.

Rishabhdev Technocable has received an approval for sale of Silvassa surplus Part / Full land & building to the specified buyers as finalized, identified and negotiated in the terms of best price. The board of directors at their meeting held on October 21, 2014 has approved for the same. The proceedings of sale shall be utilized for payments to the company’s esteemed Bankers & the excess funds will be utilized for working capital of the ongoing cable business of the company.

The company will continue its high profit special custom engineered cables of international standard cables business in which it was one of the most renowned and specialized in particular segment from last 20 years and have been serving to more than 500 customers as their preferred cables source.

Further, the company has also received approval to raise additional capital not exceeding Rs 100 crore by the way of QIP / Warrants / FCCB/ FCEB / Private Placements / GDR.

Rishabhdev Technocab Share Price

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Peers

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Rishabhdev Technocable soars on plan to sell surplus land, building at Silvassa

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