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Accentia Technologies touches the roof on plan to raise funds up to the tune of $6 million

24 Sep 2013 Evaluate

Accentia Technologies is currently trading at its upper circuit limit of Rs. 8.30, up by 0.39 points or 4.93% from its previous closing of Rs. 7.91 on the BSE.

The scrip opened at Rs. 8.30 and has touched a high and low of Rs. 8.30 and Rs. 8.29 respectively. So far 12386 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 67.20 on 04-Oct-2012 and a 52 week low of Rs. 5.88 on 05-Sep-2013.

Last one week high and low of the scrip stood at Rs. 8.30 and Rs. 6.35 respectively. The current market cap of the company is Rs. 14.13 crore.

The promoters holding in the company stood at 18.25% while Institutions and Non-Institutions held 8.78% and 72.97% respectively.

Accentia Technologies has received an approval for raising funds up to the tune of $6 million, subject to necessary approvals from concerned authorities. The board of director at its meeting held on September 23, 2013 has approved for the same.

The board also discussed the current business situation of the company and decided to keep a restructuring plan, which hinges around the company’s product offerings in Healthcare domain in the US market, in place in next one fortnight with the help of technologist and financial advisors.

Besides, the board has decided to phase out few of the low margin businesses impacted by the new US Healthcare Policy from its current portfolio.

 

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