Penny stock below ₹10 hits upper circuit after fundraise move. Details here
5 days, 21 hours ago

Penny stock below ₹10 hits upper circuit after fundraise move. Details here

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Penny stock below ₹10: Shares of SRU Steels Limited, a penny stock trading below ₹10, hit their 5 percent upper circuit at ₹8.07 on Thursday, January 9, following the company's announcement of a board meeting to discuss fundraising proposals. Rights Issue Details As part of its fundraising initiative, SRU Steels Limited intends to issue 47,951,400 equity shares with a face value of ₹10 each, aiming to raise ₹47.95 crore. This move follows SRU Steels’ positive financial performance in Q1FY24, marked by a robust 489.76 percent year-on-year growth in operational revenue. Earlier in May 2023, SRU Steels also issued bonus equity shares in a 1:2 ratio, granting one additional share for every two shares held by shareholders.

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