Reliance Defence To Consider Upto Rs 1200 Crore Rights Issue, Stock Up By 3%

With rife speculations about Reliance Defence and Engineering considering issue of up to Rs 1200 crore, the stock of the company hiked by 3.4 per cent intraday on April 6, 2017. However the decision is likely to come on April 11, 2017, post the company's board meeting.

The board is likely to consider re-validation and approval of the rights issue of equity shares, which was earlier approved by the board on April 22, 2016.

Further, the company is also likely to consider and approve its standalone and consolidated audited financial reports for the quarter as well as the financial year ending March 31, 2017.

Reliance Defence and Engineering, up by 1.41 per cent, was trading at Rs 68.15 on the BSE on April 6, 2017 at 12:41 hrs. 

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