Shares of Sigachi Industries, a company related to the pharmaceuticals industry, climbed more than 19% on Friday. In fact, the shares of Sigachi Industries gained momentum after the company announced a board meeting to raise funds through equity or convertible warrants. Shares of Sigachi Industries closed at Rs 329.35, up 19.70 per cent on the Bombay Stock Exchange (BSE) on Friday. The company’s shares also touched the upper circuit of 20% during the day’s trade.
Company’s board meeting to be held on January 10
The board meeting of Sigachi Industries will be held on Tuesday, January 10. The company said in a BSE filing, ‘The meeting will be held to consider the proposal for raising funds by issuing equity or convertible warrants to the promoters and non-promoters on a preferential basis.’ The market cap of Sigachi Industries is Rs 1012.5 crore. The 52-week high level of the company’s shares is Rs 411. At the same time, the 52-week low level of shares of Sigachi Industries is Rs 231.30.
Shares made the biggest one-day gain since listing
Shares of Sigachi Industries were listed on Nov 15, 2021. This is the biggest one-day jump in the company’s shares since listing. The company’s shares have recovered more than 40% from their 52-week low level of Rs 231.30. In the IPO of Sigachi Industries, the shares were issued at a price of Rs 163. The company raised Rs 125 crore through the initial stake sale. Further, Care Ratings has maintained the credit rating of the company with Single A minus rating on Thursday.
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