Share Market News: Small-cap Company Vishal Fabrics Shares Gain – Here’s Why

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,546.38 crore on Friday, according to exchange data.

Stock Market

Shares of small-cap company Vishal Fabrics gained on Monday after it informed the Indian stock market exchange about Rs 153 crore fundraising. The counter opened at Rs 32.90 on the BSE against the previous close of Rs 31.56. The stock touched the high of Rs 33 – a gain of 4.5 per cent from the previous close. However, it later fell down but held firmly in green. Last seen, the counter was trading at Rs 32.18.

The counter is slightly away from 52 week high of Rs 34.75. The 52-week low of the counter is Rs 14.28.

“Subject to approval of the shareholders of the Company and such other regulatory /governmental approvals, as may be required, the Board has approved the issue of Compulsorily Convertible Equity Warrants to the “Non- Promoters, Public category” on Preferential Basis by issuing up to 5,00,00,000 (Five Crores only) Warrants at an issue price of Rs. 30.60/- (Rupees Thirty point Sixty only) per warrant, each convertible into 1 (one) equity shares of the face value of Rs. 5/- each fully paid within 18 (eighteen) months from the date of allotment by SEBI (ICDR) Regulations, 2018, as amended from time to time and other applicable laws, aggregating to Rs. 153,00,00,000 (Rupees One Hundred Fifty-Three Crores Only),” the company said.

Meanwhile, equity market benchmark indices Sensex and Nifty hit their new all-time high levels in early trade on Monday in-tandem with a rally in global peers and fresh foreign fund inflows. The 30-share BSE Sensex jumped 416.62 points to hit a new record peak of 81,749.34 in early trade. The NSE Nifty surged 145.6 points to hit a fresh lifetime peak of 24,980.45.

From the Sensex pack, NTPC, State Bank of India, IndusInd Bank, ICICI Bank and UltraTech Cement were among the biggest gainers. Titan, Bharti Airtel, ITC and Tech Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong were quoting in the positive territory.
The US markets rallied on Friday. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,546.38 crore on Friday, according to exchange data.

(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)




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