Nitin Fire Protection Industries to mull fund raising via issue of shares

The company to raise funds by way of further issue of equity shares through qualified institutions placement (QIP) and to recommend to shareholders for their approval in the ensuing Annual General Meeting.

Sep 06, 2016 08:09 IST India Infoline News Service

Dalal Street
Nitin Fire Protection Industries Ltd has informed BSE about the additional matter to be considered by the Board of Directors on September 6, to raise funds by way of further issue of equity shares through qualified institutions placement (QIP) and to recommend to shareholders for their approval in the ensuing Annual General Meeting.

Share Price:

Nitin Fire Protection Industries Ltd ended at Rs. 25.15, down by Rs. 0.1 or 0.4% from its previous closing of Rs. 25.25 on the BSE.

The scrip opened at Rs. 25.2 and touched a high and low of Rs. 25.55 and Rs. 24.8 respectively. A total of 358908(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 735.06 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 51.1 on 07-Dec-2015 and a 52 week low of Rs. 22.85 on 16-Aug-2016. Last one week high and low of the scrip stood at Rs. 26.25 and Rs. 24.5 respectively.

The promoters holding in the company stood at 72.51 % while Institutions and Non-Institutions held 11.98 % and 15.51 % respectively.

The stock traded below its 200 DMA.

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