India's Duroply hits 5-month high on preferential issue to multiple investors

Duroply Industries

14/07/2022 05:57

** Shares of Indian plywood maker Duroply Industries Ltd
 DURL.BO  jump as much as 8.6% to 156.40 rupees, their highest
since Feb 14
    ** Stock gains for fifth consecutive session
    ** DURL on Wednesday said it approved issuance of up to 1
mln shares on preferential basis to 26 investors at a price of
126 rupees per share  urn:newsml:reuters.com:*:nFWN2YT3UF
    ** Shares issued to one promoter and 25 investors, including
ace investor Porinju Veliyath 
    ** Co also approved issuance of 1.2 mln warrants each
carrying a right to subscribe to 1 equity share at a price of
126 rupees per warrant
    ** About 10,755 shares change hands, 2.4x 30-day avg of
4,546 shares
    ** DURL up 27% YTD
    
    

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))