Small-cap stock under ₹50: Textile stock edges higher despite weak Indian stock markets
Stock Market Today: Small-cap stock under ₹50, the Textile stock Vishal Fabrics edges higher during the intraday trades on Thursday. This was despite weak Indian Stock markets when the Sensex was trading 0.2-0.3% lower
Vishal Fabrics recent developments
The textile stock, Vishal Fabrics share price gained on Thursday post company on Wednesday 23 April 2024, announced development pertaining to conversion of 50,00,000 warrants into equal number of equity shares of the Company.
The Vishal Fbrics announced that the Fund raising Committee of the Board of Directors of the Company in their meeting held on today i.e. Wednesday, April 23, 2025 considered and approved the allotment of 50,00,000 equity shares having face value of Rs. 5/- each , upon full conversion of 50,00,000 warrants applied by Multitude Growth Funds (Formerly known as AG Dynamic Funds Limited)- the Non-Promoter, Public Category, issued at an issue price of Rs. 30.60/- each, on preferential basis, upon receipt of balance amount aggregating to Rs. 11,47,50,000/- (Rupees Eleven Crores and Forty-Seven Lakhs Fifty Thousand only) at the rate of Rs. 22.95/- (Rupees Twenty-Two and Ninety-Five Paise only) per warrant (being 75% of the issue price per warrant) from the allottee pursuant to the exercise of their rights of conversion into equity shares
Vishal Fabrics on September 12, 2024, had intimated the exchanges about allotment of warrants,
Vishal Fabrics share price movement
The Vishal Fabrics share price opened almost flat at ₹share price opened at ₹26.72 on the BSE on Thursday. At the time of opening, the Vishal Fabrics share price was at similar levels compared to the previous day’s closing price of ₹26.71 .Vishal Fabrics share price however gained to intraday highs of ₹26.98 during the intra day trades on Thursday which translated into gains of more than 1 per cent despite weakness in Indian Stock markets as Sensex traded around 0.2 to 0.3% lower
The Vishal Fabrics share price share price that had declined to levels of ₹23-24 in early in February End, early march, in line with sharp correction in stock markets however has been rebounding . Vishal Fabrics share price share price currently is trading around 10 % higher compared to lows
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