Prakash Industries Gallops Over 5% Allots Shares On Conversion Of FCCB

Prakash Industries stocks are galloping on BSE over 5% at Rs 80.95 per share, as the company has received notice from FCCB holders for conversion of 66 FCCBs,  each amounting to Rs $50,000 into 34,97,861 number of equity shares of face value Rs 10 each.

After the conversion, the paid up capital of the company has jumped to Rs 1,42,54,41,920, showing a growth of 2.51%.

The stock has outperformed both BSE Small-cap index & BSE Sensex on a yearly basis. Prakash Industries Limited is engaged in the production of ferro alloys, MS TMT/MS Coil and allied products, HB Wire Rod, and PVC pipes and sockets. BSE Small-Cap index is trading up by 182 points or 1.26% at 14615 levels.

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