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Trent to raise up to Rs 250 crore via stake sale
Investors will eye Tuesday's statement from the U.S. central bank's Federal Open Market Committee to see whether the Fed will cool down expectations of more easing of monetary policy, which might make it difficult to extend the rally.
12 Mar 2012, 10:51 PM IST 
Shinzo Nakanishi, Managing Director, Maruti Suzuki India
Tata Group's retail arm Trent Ltd today said its board has approved a proposal to raise up to Rs 250 crore through placement of shares with institutional investors.
The company's board has decided to open a QIP (Qualified Institutional Placement) issue of Rs 225 crore with an option of hiking the size up to Rs 250 crore in aggregate, by way of issue of equity shares, Trent said in a filing to the BSE.
"The said issue is being carried out in accordance with the resolution passed by the shareholders of the company through postal ballot on November 14, 2011," it added. Shares of Trent Ltd today closed at Rs 912 on the BSE, up .43 per cent from its previous close.