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Hot Pursuit
29-Mar-23
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RHI Magnesita gains after board to mull fund raising on 1 April
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RHI Magnesita India rallied 2.40% to Rs 594 after the company announced that its board will meet on Saturday, 1 April 2023, to consider raising upto Rs 200 crore via preferential allotment.
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"A meeting of the board of directors of the company is scheduled to be held on Saturday, 1 April 2023, inter alia to consider and approve the proposal for raising of funds by way of a preferential allotment by way of issue of equity shares to its promoters and / or the members of the promoter group of the company for an aggregate amount not exceeding Rs 200 crore," the company said in exchange filing.
RHI Magnesita India is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. The company serves customers in India and more than 75 countries.
The company reported 23% fall in consolidated net profit to Rs 59 crore in Q3 FY23 from Rs 76 crore in Q3 FY22. Net sales jumped 18.7% year on year to Rs 644.85 crore in Q3 FY23.
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Corporate News
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RHI Magnesita India announces board meeting date
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Corporate News
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Hot Pursuit
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14-Feb-23
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