The share price of EIH got a boost on the share markets on the reports of the company approving a right issue. It is to be mentioned here that the share price of the company gained as much as 3.25% standing at Rs. 144.4% on the BSE after it made its plans clear of raising as much as Rs. 1,300 crore from the markets.

While the announcement came into the public eye before the trading hours on 24th September 2010 started and stock had hit a high of Rs. 145.8 and a low of Rs. 143 during the day. It may be noted here that close to 1.54 lakh shares were traded on the BSE in the counter which is less as compared to the average of 4.04 lakh shares being traded in the past one quarter.

For the investor record, it is important to mention that the stock had hit a 52-week high of Rs 180.80 very recently i.e. on 31 August 2010 and a 52-week low of Rs 101 on 15 March 2010. However, the company has now finalized its names for finalizing the ratio of the rights issue. It may be recalled here that the Mukesh Ambani led RIL picked up a 14.12% stake in EIH in August 2010.