Rushil Decor rights issue: Small-cap stock hits 20% upper circuit after fund raise move

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Rushil Decor rights issue: Shares of Rushil Decor is among the newsmaker stocks on Dalal Street. This small-cap stock with a market cap of around ₹928 crore is soon going to discuss and approve fund raise through rights issue.

The small-cap company informed Indian stock market bourses that its board meeting has been fixed on 26th October 2023 to discuss and approve fund raise via rights issue. After the spread of this stock market news, Rushil Decor share price opened with an upside gap and hit 20 per cent upper circuit within few minutes of stock market's opening bell today.

Rushil Decor share price today opened higher at ₹294.75 apiece levels on NSE and went on to hit intraday high of ₹349.60 apiece levels, locking-in 20 per cent upper circuit. Rushil Decor Ltd informed Indian bourses about fund raise move citing, "This is to intimate that a meeting of the Board of Directors of the Company "Rushil Decor Limited" is scheduled to be held on Thursday, 26th day of October, 2023, inter alia to consider and approve the Raising of Funds by issue of Equity Shares, or any other financial instruments convertible into Equity Shares (including warrants, or otherwise) by way of Preferential Allotment or Private Placement or Qualified.

Institutions Placement or Right Issue Basis or any combination thereof or any other method as may be permitted under applicable laws." Multibagger logistics stock hits life-time high after agreement with ICICI Bank "As informed earlier vide our letter No. RDL/061/2023-24 dated 29th September, 2023, the trading window for dealing in the securities of the Company is already closed for all insiders including Designated Persons of the Company from Sunday, October 1, 2023," the small-cap stock added.