At the day's low of Rs 100.25, the stock had declined 1.67% before the company made this announcement during trading hours.
Meanwhile, the BSE Sensex was up 63.30 points, or 0.36% to 17,582.56.
On BSE, 1.56 lakh shares were traded in the counter as against an average daily volume of 67,485 shares in the past one quarter.
The stock hit a high of Rs 104.80 and a low of Rs 100.25 so far during the day. The stock had hit a lifetime high of Rs 115 on 15 March 2010 and a 52-week low of Rs 18.50 on 25 March 2009.
The small-cap stock had outperformed the market over the past one month till 18 March 2010, gaining 17.25% as compared to the Sensex's 7.30% rise. It had also outperformed the market in the past one quarter, rising 27.76% as compared to the Sensex's return of 4.78%.
The company's equity capital is Rs 14.40 crore. Face value per share is Rs 2.
The current price of Rs 101.80 discounts the company's Q3 December 2009 annualized EPS of Rs 7.93, by a PE multiple of 12.84.
Hindustan Dorr-Oliver will raise funds through issue of equity shares/ global depository receipts (GDRs)/American depository receipts (ADRs)/ foreign currency convertible bonds (FCCBs) and/or any other financial instruments convertible into equity shares including fully/partly convertible debentures, bonds, warrants and/or such other securities either through preferential issue and/or qualified institutional placement and/or private placement/public offering or any combination, the company said in a filing with BSE.
Hindustan Dorr-Oliver's net profit rose 93% to Rs 14.28 crore on a 67.9% rise in sales to Rs 209.45 crore in Q3 December 2009 over Q3 December 2008.
Hindustan Dorr-Oliver, owned by IVRCL group is a total engineering solutions provider in the field of pulp & paper, fertilizers, mineral beneficiation and all kinds of water & waste treatment plants. IVRCL Infrastructure & Projects holds 55.17% stake in the company (end December 2009).