The board approved the transaction in their meeting held on September 26, 2022.
The board approved the preferential issue aggregating up to Rs100 crore.
Auto stocks were trading in the positive zone, with the S&P BSE Auto index rising 68.25 points or 0.24% at 28838.32 at 09:46 IST.
The Banking index has tumbled more than 500 points.
Motherson Sumi Wiring India advanced 3.50% to Rs 87.20 after the company said its board will consider the proposal for issue of bonus shares to the equity shareholders of the company on 30 September 2022.
Investment through P-Notes increased in August, after three months of decline
Telecom stocks were trading with gains, with the S&P BSE Telecommunication index increasing 3.59 points or 0.21% at 1691.95 at 09:46 IST.
Spandana Sphoorty Financial Ltd has added 0.42% over last one month compared to 2.02% fall in S&P BSE Financial Services index and 2.3% drop in the SENSEX

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