India's Hatsun Agro rises on board nod to raise $50 mln via rights issue

Hatsun Agro Product

20/09/2022 05:31

** Shares of dairy firm Hatsun Agro Product  HAPL.NS  rise
as much as 3.3% to 1,114 rupees, their biggest pct gain since
Sept. 9
    ** HAPL late Monday said its board approved raising up to 4
billion rupees ($50.20 million) via a rights issue  urn:newsml:reuters.com:*:nFWN30Q0FC
    ** Co had last month said it got the board approval to 
raise 7 billion rupees via a private placement of shares
 urn:newsml:reuters.com:*:nFWN2ZW09C
    ** More than 16,000 shares traded as of 0420 GMT, vs their
30-day avg of 57,588 shares
    ** Stock has fallen 14.7% so far this year, as of last close


($1 = 79.6750 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))