India's textile maker RSWM jumps most in over 5 mths on share issue approval

RSWM

13/12/2022 04:51

** Shares of yarns spinning mills co RSWM Ltd  RSWM.NS  rise
as much as 6.9% to 359 rupees, their sharpest intra-day pct gain
since June 28
    ** RSWM late on Monday said its board of directors approved
issuance of shares of the co worth 2.36 bln rupees ($28.52 mln)
 urn:newsml:reuters.com:*:nFWN3321AJ
    ** Issue price at 100 rupees per share, including a premium 
of 90 rupees, co added
    ** Rights entitlement ratio is fixed at 1:1
    ** More than 251,000 shares traded as of 10:14 a.m. IST, 4.4
times their 30-day moving avg of 57,222 shares
    ** Stock up for second consecutive session, hits highest
since Sept. 23
    ** Shares down 27% YTD as of last close
($1 = 82.7490 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))