Stock Market: The board of this smallcap company has approved raising funds, keep an eye on the stock:

News Topical, Digital Desk : Ethos, a luxury watch company, has shared its plan to raise funds with the market. The company said in a communication to the stock market today that its board has approved the proposal to raise funds through a rights issue. Under this proposal, the company can raise a maximum of Rs 410 crore. The company released this information after the market closed on Tuesday. The stock closed with a decline of more than one percent in Tuesday's trading.

What information did the company give

In the information sent to the stock market, the company said that its Board of Directors meeting was held on June 3, 2025, in which the board has approved the proposal to raise a maximum of Rs 410 crore by issuing shares with a face value of Rs 10 to eligible shareholders through a rights issue. The company will announce the record date for this later. The company said that a meeting will be held on June 6 to get approval on the record date, price and ratio.

How were the results The company presented its quarterly results on May 5. In the March quarter, the company's income has increased by more than 23 percent year-on-year to Rs 311 crore. At the same time, EBITDA has increased by more than 32 percent to Rs 47.59 crore. The company's profit has increased by more than 8 percent and reached Rs 22.74 crore. The company's expenses have increased by about 23 percent on a year-on-year basis.

How was the performance of the stock? On Tuesday, the stock closed at around 2750 with a decline of more than one percent. The stock has increased by more than 8 percent in a month. However, so far in the year 2025, the return of the stock has been negative 6 percent. However, the prices have increased by 268 percent in 3 years.