Prakash Industries Surges Over 5%, Allots Equity Shares Of FCCB

Stocks of Prakash Industries are gaining in trade in today’s session, surging over 5% at Rs 90.80 per share, on BSE. The stock started its day-trade at Rs 85.25 per share, which is also its low; and touched a high of Rs 91.30 per share.

The company has received notice from Foreign Currency Convertible Bonds (FCCB) holders for conversion of 20 FCCBs (US $ 50,000 each) into 10,59, 958 number of equity shares to said FCCB holders.

The stocks of the company have outperformed BSE Small-cap index and BSE Sensex index on a yearly basis. The market cap of the company stands at 1292.88 crore, and the total traded quantity stands at 5.91 lakhs in BSE.

Prakash Industries Limited is engaged in the production of ferro alloys, MS TMT/MS Coil and allied products, HB Wire Rod, and PVC Pipe and Sockets. 

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About Suhani Varma

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