Kalpataru Power stock up by more than 5% today

On Friday, when the firm board approved a plan to raise money, shares of Kalpataru Power Transmission (KPTL) rose by more than 5% to an intra-day high of Rs 566 per share on the BSE.

The company announced on Thursday that its board had approved funding Rs 99 crore through the issue of non-convertible debentures (NCDs). Following the announcement, the stock has risen more than 12% in the following two sessions. When this report was written, it traded 6% higher and off the day's high. According to the fundraising strategy, 990 NCDs with a face value of Rs 10 lakh each will be issued at a coupon rate of 8.46%.

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