Kesoram Industries climbs 4.9% on fund raising plan

The board has given the approval to dispose off the company's spun pipe and the heavy chemicals units located in West Bengal.

Kesoram Industries climbed 4.9% to Rs. 115 on BSE. The board approved the company's proposal to raise up to Rs. 650 crore through qualified institutional placement. The board has also given the approval to dispose off the company's spun pipe and the heavy chemicals units located in West Bengal.

The scrip opened at Rs. 113 and has touched a high and low of Rs. 114.8 and Rs. 111.9 respectively. So far 358,880 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1200.87 crore.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 148.85 on 13-Apr-2015 and a 52 week low of Rs. 69.5 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 110.8 and Rs. 95.5 respectively.

The promoters holding in the company stood at 46.01 % while Institutions and Non-Institutions held 8.77 % and 38.8 % respectively.

The stock is currently trading below its 200 DMA.