Speciality Restaurants hits new high ahead of EGM; zooms 41% in one month

On December 21, the board approved an issue of 6 million warrants, each convertible into 1 equity share of the company at a price of Rs 212.05 to allottees other than promoters

Shares of Speciality Restaurants rallied 11 per cent to hit a new high of Rs 278.50 on the BSE in Tuesday’s intra-day trade.

In the past two days, the stock of the restaurant company has surged 16 per cent ahead of its extra-ordinary general meeting (EGM) on Wednesday, January 18, 2023, which will be held to take shareholder approval for fund raising through the preferential issue to non-promoters.

In the past one month, the stock has zoomed 41 per cent as compared to a 1.4 per cent decline in the S&P BSE Sensex. Further, in the past six