India's Sanghi Industries rises on proposed fundraising

Sanghi Industries

01/12/2022 04:42

** Shares of cement manufacturer Sanghi Industries Ltd
 SNGI.NS  rise as much as 4.6% to 72.00 rupees, highest since
Nov. 18
    ** Stock set for third consecutive session of gains
    ** Co said late on Wednesday it is considering raising funds
via a rights issue, preferential allotment, including a
qualified institutions placement, according to an exchange
filing
    ** Board meeting to be held on Dec. 3 
    ** More than 425,418 shares traded, 0.7x 30-day avg of
581,779 shares
    ** Median PT is 60.00 rupees - Refinitiv data
    ** Up to last close, SNGI up ~23% YTD, outperforming 9% rise
in Nifty Commodities  .NIFTYCOM  index  
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))