India's BGR Energy rises after fundraise approval

BGR Energy Systems

05/07/2024 08:13

** Shares of India's BGR Energy  BGRE.NS  up ~5%, hitting
session high of 44.1 rupees  
    ** Engineering firm's board approved fundraise worth up to
10 bln rupees ($120 mln) via rights issue 
    ** Stock eyes best week since mid-May, if gains hold 
    ** Trading vols 1.5x 30-day avg 
    ** Stock has lost ~55% YTD

($1 = 83.4850 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))