Share Market News: PTC Industries Shares Gain a Company Mulls Fundraising

Share of PTC industries gained over 5 per cent on Thursday to hit the high of Rs 15600. The counter had closed at Rs 14781.80 in the last trading session. The surge comes as the company has informed exchanges that its board will meet on July 13 to discuss a proposal for fundraising in one or more tranches.
The funds are proposed to be raised in one or more tranches through instruments or securities such as private placement, preferential issue, rights issue, and qualified institution placement, as discussed by the board of directors, according to an exchange filing on Wednesday.
The company also said that it has closed trading access to its securities for the whole month of July, until 48 hours after the declaration of financial results for the quarter ended June 30.
“The board would also consider convening an extraordinary general meeting or postal ballot process to seek the approval of the shareholders in respect of the aforesaid proposal of fundraising, as required,” the filing said.
Earlier, PTC Industries informed exchanges that its wholly owned subsidiary – Aerolloy Technologies Limited – has developed the most advanced casting technology for manufacturing Single Crystal and Directionally Solidified blades and vanes for Aero-engine and Industrial Gas Turbine applications.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)