The 59th PTC India Ltd Board Meeting on Monday, April 5, was marked by the amendment of the decision taken by the company's board at the 57th meeting. The previous decision went thus: "subject to the approval of shareholders raising of funds up to Rs. 12 billion through the Qualified Institutional Placement - NCDs upto Rs. 4 billion; plus warrants of upto Rs. 8 billion."

As per the new recommendation, the company's Board of Directors suggested the shareholders raising of funds up to Rs. 5 billion in one or more tranches, through issuance of equity shares, with the appropriate time and stipulations to be determined by the Board of Directors at an apt period.

With the CNBC-TV18 reporting the company Board's approval of raising up to Rs. 5 billion by way of equity, shares of PTC India - being traded in volumes of 148,768 shares - soared to an intraday high of Rs. 80.90, with the intraday low being Rs. 75.

The shares - which closed up by Rs. 0.85 or 1.19 percent at Rs. 72.35 on Thursday - showed an increase of 4.22 percent or Rs. 3.05, to reach Rs. 75.40 at 11 a. m. trading on Monday.