India's Craftsman Automation rises after QIP fundraise nod

Craftsman Automation

19/06/2024 08:33

** Shares of India's Craftsman Automation  CRAF.NS  up 4% at
4958.85 rupees, after rising 4.5% earlier in the day 
    ** Automotive and industrial engineering firm approved
fundraise worth up to 12 billion rupees (~$144 million) via
qualified institutions placement (QIP)  
    ** Stock set to gain for the fourth straight session, if
trends hold 
    ** Trading vols 2.7x 30-day avg 
    ** Day's rise trims YTD losses to 8.4%, CRAF jumped ~55% in
2023 

($1 = 83.3811 Indian rupees)

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