Shares of DCX Systems Ltd. jumped 9% on Friday after its board approved raising up to Rs 500 crore.
The board has also constituted and authorised a fund raising committee in order to decide the terms and conditions of the proposed fund raise, the exchange filing said.
Shares of the company rose as much as 9% to 344.90 apiece, the highest level since Sept. 11. It pared gains to trade 6.9% higher at Rs 338.95 apiece, as of 11:03 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.
It has risen 50.75% on a year-to-date basis. Total traded volume so far in the day stood at 10 times its 30-day average. The relative strength index was at 72, indicating that the stock may be overbought.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
