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Walchandnagar Industries shines on getting nod to raise Rs 200 crore via various means

14 Nov 2018

Walchandnagar Industries is currently trading at Rs. 108.05, up by 3.45 points or 3.30% from its previous closing of Rs. 104.60 on the BSE.

The scrip opened at Rs. 107.70 and has touched a high and low of Rs. 108.05 and Rs. 106.20 respectively. So far 2359 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 272.90 on 28-Nov-2017 and a 52 week low of Rs. 89.00 on 29-Oct-2018.

Last one week high and low of the scrip stood at Rs. 108.50 and Rs. 102.80 respectively. The current market cap of the company is Rs. 398.21 crore.

The promoters holding in the company stood at 55.00%, while Institutions and Non-Institutions held 4.51% and 40.46% respectively.

Walchandnagar Industries has received approval to raise funds not exceeding Rs 200 crore, by way of issue of securities including but not limited to Equity Shares, and/or any other securities convertible into Equity Shares with or without warrant by way of public and/ or private placement, through Qualified Institutional Placement (QIP)/ Rights Issue or through any other permissible mode and / or combination.

The Board of Directors of the Company at its meeting held on November 13, 2018 has approved the same.

Walchandnagar Industries is a high-tech heavy engineering company, manufacturing critical equipment for India's diverse requirements in the field of defence, nuclear power and space programmes.

Related Walchandnagar Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323