While recommending institutional investors to vote in favour of the resolution pertaining to approval of preferential allotment to promoters, proxy advisory firm IiAS said the issue would lead to a dilution of 10.5%, and the equity raise gives the company funds required to meet its payment obligations as well as repay its dues and meet its working capital requirements.

The Relative Strength Index of the stock stood at 46.71 on Tuesday.

Despite near term margin headwinds, the stock appears attractive from a 2-3 years horizon.

The company said on Monday that said a wholly-owned subsidiary of APL Apollo Tubes, APL Apollo Mart, had bought 10,00,000 equity shares of the company, accounting for 4.38 per cent of the total paid-up capital.

The stock quoted a 52-week high of Rs 2679.0 and a 52-week low of Rs 1045.83.

A total of 40,759 shares changed hands on the counter till 11:01AM (IST).

Dodla Dairy Ltd. key Products/Revenue Segments include Food Products, Sale of services and Scrap for the year ending 31-Mar-2021.

​​"The meeting of the board of directors of the company is scheduled on 29 March 2022, to consider and approve the proposal for raising of capital through the issuance of Basel-III compliant additional tier-1 bonds and/or tier-2 bonds or a combination thereof, in one or more tranches for FY2022-23," PNB said in a regulatory filing on Monday.

Prasad said the backward integration will allow Granules to mitigate supply chain disruptions, volatility in prices and also increase expectations of environmental standards. Granules will spend about ₹250 crore on its backward integration and ₹150 crore on its greenfield formulation manufacturing unit in Genome Valley, near Hyderabad.

The government had proposed a ₹4,950-crore capital infusion in state-run general insurers in the third supplementary demand of grants earlier this month.