India's Rangoli Tradecomm hits record high on bonus share issue

Suumaya

23/09/2021 09:25

** Textile trader's shares  RANG.BO  jump as much as 9.8% to
an all-time high of 1,049 rupees 
    ** Rangoli Tradecomm recommends a bonus issue of shares in
the ratio of 2:1  urn:newsml:reuters.com:*:nFWN2QO0ZZ
    ** RANG also recommends increasing its authorized capital to
250 mln rupees ($3.39 mln) from 120 mln rupees ($1.63 mln)
    ** "Commodity prices have surged substantially during the
current financial year and we have been able to capitalize on
the same effectively" - Ushik Gala, Chairman and MD
    ** Including session's gains, RANG stock has risen nearly
five-fold since debuting on exchanges in March 


($1 = 73.7100 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))