Why McNally Bharat Engineering Shares Surged 20% Today

McNally Bharat Engineering shares surged as much as 20 per cent to hit intraday high of Rs 94.90 on Wednesday after the company raised Rs 100 crore equity capital from EMC and Williamson Magor Group (existing promoter) at Rs 100 per share, 26 per cent higher than its Tuesday's closing price.   In a release to Bombay Stock Exchange, McNally Bharat Engineering said that it has entered into an agreement with "EMC and Williamson Magor Gr...