“The Company at a meeting held today i.e. Saturday, October 19, 2024 at 10:00 a.m. at 11:05 a.m., inter alia, considered and approved the following business: 1. Issue of equity shares or other convertible securities by Eligible Institutions Placement Mode, Aggregate Consideration Rs. 1500 crore (Rupees fifteen hundred crore only),” the company said in a filing to stock exchanges.
The company further informed that the board also approved the draft notice for the Extra-Ordinary General Meeting (EGM) to seek shareholders’ approval for the issue of securities through a special resolution.
Shares of PG Electroplast have given multibagger returns this year. The stock has gained 225.6% in the last 6 months alone, while the year-to-date and last 1-year gains are 158.6% and 210%, respectively.
On the chart, the stock is trading well above its short-, medium- and long-term (10, 20, 50, 100 and 200) all significant exponential moving averages (EMA) and relative strength indicators (oscillating near the 53-mark). RSI), which is the mid-range level on the indicator.
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PG Electroplast is a leading and leading provider of electronics manufacturing services in India. It was incorporated in 2003 as the flagship company of PG Group. Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding are the company’s areas of expertise.
On the BSE on Friday, the stock rose 4% to Rs. closed at 616.10.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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