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Hind Rectifiers's stock skyrockets 20% after stellar quarterly results
Hind Rectifiers just had a big day on the stock market, with shares shooting up 20% to ₹1,712.2 after some impressive financial results.
The company's revenue climbed 58.5% year-on-year to ₹214 crore, and profits weren't far behind—net profit jumped 81.4% to ₹12.7 crore this quarter.
Hind Rectifiers to raise more funds through convertible equity warrants
Alongside the good news, Hind Rectifiers announced it's raising more funds by issuing two lakh convertible equity warrants at ₹1,368.23 each to Elventive Tech Pvt Ltd.
Each warrant will eventually turn into one share, helping the company strengthen its capital for future growth and expansion plans.