Sagar Cements board to consider fund raising on March 25; Stock rallies over 3.5%

22 Mar 2022 , 09:56 AM

Sagar Cements Ltd stocks in thee fast lane on Tuesday’s early bells after the announcement of fund raising through issue of equity shares on a preferential basis.

As per regulatory filing, the industry informed that the Board of Directors will be meeting on March 25, 2022 to consider, inter-alia, a proposal to raise funds through issue of equity shares on a preferential basis, subject to necessary approvals to be obtained for the purpose.

At around 10:00 AM, Sagar Cements was trading at Rs249.50 apiece up by Rs8.8 or 3.66% from its previous closing of Rs240.70 apiece on the BSE.